A court in Dhaka on Saturday placed ringID Director Saiful Islam on a two-day remand in a case filed under the Digital Security Act.
Dhaka Metropolitan Magistrate Sadbir Yeasir Ahsan passed the order after police had produced him before the court, seeking a five-day remand.
Azad Rahman, the additional superintendent of police (media) of police's Criminal Investigation Department, this afternoon said Saiful was arrested from the capital's Gulshan area on Friday in the case.
Earlier on Thursday, a man lodged the lawsuit with Bhatara Police Station against 25 people, including 10 named and 15 unnamed ones, under the DSA, and Multi-level Marketing Control Act.
Apart from Saiful, other named accused are Shariful Islam, Irin Islam, Salah Uddin, Ahsan Habib, Rafiqul Islam, Nazmul Hasan, Abdus Samad, Redwan Rahman, and Rahul.
In this case, the complainant alleged that he was deceived by investing in social marketing platform by ringID.
Allegations surfaced that ringID embezzled a huge amount of money from the people saying earning in advertisements in the community jobs sector.
CID said the platform swindled a total of 212.45 crore in three months - May, June, and July.
The specialized intelligence and investigation wing of police also requested Bangladesh Bank to freeze all bank accounts of ringID so that it cannot launder money abroad.
JA/SU