Mohammad Rassel, former CEO of the online marketplace Evaly, was granted bail and released from Kashimpur prison on Monday afternoon.

Shahjahan Ahmed, Senior Jail Super of Kashimpur Central Jail, has confirmed his release to The Daily Star.

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Rassel's release comes over a year after his arrest alongside his wife, Shamima Nasrin, amid allegations of severe financial misconduct. Rassel and his wife, Shamima Nasrin, also a co-founder of Evaly, were detained on 16 September 2021 based on a money laundering accusation by a customer.

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Following their detention, the couple faced charges in several cases related to fraud, centered around their management of Evaly. These charges allege the embezzlement of a substantial sum, reported in crores of taka, from the platform's customers and investors.

Evaly, once a notable entity in Bangladesh's e-commerce industry, ceased operations amidst these legal and financial challenges. However, in October 2022, the company announced a resumption of its operations after a year-long suspension.