MK Khairul Bashar, chairman of BSB Global Network, has been placed on a 10-day remand by the court over allegations of embezzling hundreds of crores of taka from ordinary students by luring them with the promise of higher education abroad.

Dhaka’s Additional Chief Metropolitan Magistrate Md. Sanaullah granted the remand on Tuesday. The police had requested a 10-day remand for interrogation on that day.

Earlier, on Monday, Bashar was arrested from the ground floor of a building on Road No. 4 in Dhanmondi, Dhaka.

According to the remand application, Khairul Bashar and his associates deceived 141 victims out of Tk 182,957,680 (approx. 18.3 crore) by promoting flashy ads for higher education in countries such as Canada, Australia, and the USA.

Preliminary investigation has revealed that the organization has embezzled over Tk 530 million (Tk 53 crore) from approximately 448 victims. The total figure is expected to increase after the final investigation.

Multiple cases of fraud and embezzlement are ongoing against Bashar at Gulshan Police Station. He is reportedly part of an organized fraud ring, which is also involved in money laundering.