The arrests were made at approximately 4 am on Thursday (22 October) near the main entrance of IITB in the Colony area of Bogura town. Detectives carried out the operation following intelligence about suspected fraudulent financial activities.
The arrested men have been identified as Nazim Uddin, 42, of Rahimabad Dakshinpara, and Obaidur Rahman, 40, of Phulkot Paschimpara, both in Shajahanpur upazila, and Nurul Islam, 41, of Hazradighi Uttarpara in Bogura Sadar upazila.
Police identified Nazim Uddin as the alleged mastermind of the group, which investigators believe had been operating an online financial fraud scheme for a considerable period.
Additional Superintendent of Police and district police spokesperson Atowar Rahman confirmed the arrests in an official press release.
According to Rahman, members of the District Detective Branch (DB) conducted the operation in the Colony area, beside the Satmatha–Banani highway, after receiving confidential information about the suspects’ activities.
During the operation, detectives seized four mobile phones and five SIM cards allegedly used to facilitate fraudulent transactions.
Police said the suspects had been exploiting digital financial platforms to deceive customers by promising substantial returns on money deposited through online accounts.
Investigators believe the group initially approached prospective customers with offers to open accounts through an online application. Customers were required to pay a specified amount to complete the account-opening process.
Once the accounts were established, the suspects allegedly encouraged customers to deposit larger sums by promising significantly higher profits.
According to police, the group used these assurances to persuade individuals to transfer considerable amounts of money, which were subsequently misappropriated.
The alleged scheme involved attracting customers with an apparently straightforward account-opening service before encouraging them to commit larger amounts of money in the expectation of greater financial rewards.
Rahman said the suspects had been involved in such activities for an extended period, using digital technology and online financial services to obtain money through deception.
Investigators examining the seized mobile phones reportedly discovered records of financial transactions involving several online platforms, including Binance, Cross Market, Platin Passport, Abrix Labs and FundFX.
Police described the transactions identified on the devices as unlawful. Officers also found multiple Gmail accounts associated with the seized phones.
However, the discovery of records involving these platforms does not establish that the companies or services themselves were involved in fraudulent activities. The police allegations concern the suspects’ reported use of online financial systems to conduct unauthorised transactions and obtain money unlawfully.
Officer-in-Charge of the Bogura District Detective Branch Iqbal Bahar said the arrested men had allegedly been working together for a prolonged period, using electronic devices to carry out illegal financial transactions in cyberspace.
He said the suspects were believed to have conducted the activities for unlawful financial gain.
A case has been filed against the three men under the Cyber Protection Act at Bogura Sadar Police Station.
The allegations highlight the financial risks associated with online investment arrangements that promise unusually high returns. Such schemes can exploit the convenience of digital payments and the growing popularity of mobile financial applications to attract customers who may be unfamiliar with the risks involved.
Promises of substantial profits, particularly when accompanied by requests for repeated deposits, can be warning signs of fraudulent investment activity. Verifying the legitimacy of an online financial service and its regulatory authorisation is an important precaution before transferring money.
The police statement did not specify the total amount allegedly embezzled or the number of customers believed to have been affected.
Authorities have also not disclosed the overall value of the transactions identified on the seized devices or whether other individuals were connected to the alleged operation.
The accusations against the three arrested men remain subject to investigation and judicial proceedings.
