The Criminal Investigation Department (CID) has arrested Haider Kabir Mithun, Deputy Managing Director (DMD) of Holistic Home Builders Limited, for his alleged involvement in embezzling approximately Tk120 crore from hundreds of clients under the guise of real estate investments.
Mithun, 54, was apprehended at Hazrat Shahjalal International Airport on Saturday night. CID officials confirmed that he was detained with the help of immigration police immediately after his flight landed from abroad.
According to case documents, the firm lured investors by offering 36 shares in a proposed nine-storey building on a 10-katha plot in Uttarkhan, Dhaka. The price for each share was set at Tk15 lakh, and payments were collected through the company’s office in Uttara Sector-4. The primary complainant in the case invested Tk12.80 lakh, while a friend of the plaintiff lost Tk9 lakh in the same scheme.
The CID investigation revealed that the syndicate targeted around 470 clients, collecting an estimated Tk120 crore by selling shares in various projects, including mouza lands and rented three-star hotels across Dhaka. Although the company issued receipts and cheques to investors, it consistently failed to complete land registrations, citing various excuses to delay the process. Clients who demanded refunds were reportedly threatened and forcibly removed from the company’s office.
After the scam was exposed, the company’s Managing Director, Md Shishir Ahmed, went into hiding. A new board of directors was subsequently formed, issuing a public notice disclaiming any liability for financial transactions conducted between June 2022 and September 2024.
The CID noted that Mithun, who played a direct role in the fraudulent activities, had fled the country shortly after the case was filed. Investigations by the Dhaka Metro North unit have revealed several other fraud cases pending against the accused. Mithun has been produced before the court with a request for remand.
The CID stated that operations are ongoing to arrest other members of the syndicate and urged the public to exercise extreme caution before engaging in similar financial transactions.
