Ehsan Group chairman Ragib Hasan and his associate were arrested on Friday by Rapid Action Battalion (RAB) on charges of misappropriating Tk 17,000 crore (170 billion), reports UNB.
The RAB headquarters, however, did not yet disclose from where and when he was arrested.
RAB will hold a press briefing at its media centre over the arrest at around 3:30pm.
According to official sources, Ragib, once an Imam of a mosque, joined a Multi-Level-Marketing (MLM) company and he set up Ehsan Group of Companies in 2010 based in Pirojpur.
Starting with a real estate company first, he later formed 17 firms under the group’s name.
Many cases were filed against the group on charges of embezzlement of money from thousands of people promising to run the company according to Islamic Shariah law and offering them a high profit.