Rapid Action Battalion arrested 10 officials and staffs of Karnaphuli Multipurpose cooperative society limited after raiding the firm's office in the capital's Mirpur area on Monday.
The Cooperative Society Limited swindled over Tk100 crore from deposit schemes for low-income people.
The RAB confirmed the arrest of the firm's director Shakil Ahmed. The company's owner Jashim Uddin, however, has gone into hiding.
Mozammel Mozammel, RAB-4 director additional deputy inspector general, said, "Jashim was a representative of an insurance company and started his firm in 2003 and got registered three years later, now having around 30,000 clients."
He also said, "The operative society was offering different deposit schemes. It has been offering that if any client deposits Tk60,000 in five years on monthly installments, the client will get Tk90,000 in return."
RAB raided the Karnaphuli Multipurpose after many clients came up with allegations that they were scammed and were also beaten by the company's officials and staff when they asked for their money back.
Though Tk100 crore was swindled, the firm now has only Tk80 lakh in their account.
Several hundred agitated clients have been protesting in front of the firm for last few days to get back their money.
Officials of the company have declined to comment.