The Criminal Investigation Department (CID) has arrested Haider Kabir Mithun, 54, deputy managing director of Holistic Home Builders Ltd, for allegedly embezzling around Tk 120 crore from hundreds of clients under the guise of a housing project. The arrest was made under a case filed with Uttara East Police Station, according to a CID press release issued on Sunday.

According to the case statement, the company promoted a project near Uttarkhan Police Station, offering 36 shares of a proposed (G+9) building on 10 kathas of land, each priced at Tk 15 lakh. Many clients, including the complainant, invested significant sums at the company’s Uttara Sector-4 office. Despite issuing receipts and cheques, the company failed to register the promised land shares and instead delayed the process with various excuses. Later, clients discovered that the accused had collected funds from about 470 people through similar fraudulent schemes.

Investigators found that Mithun, as DMD, was directly involved in collecting and misappropriating client funds. The company’s managing director reportedly went into hiding, and a new board later disclaimed responsibility for transactions made between June 2022 and September 2024.