Aladinerprodip CEO Still Free After Embezzling Millions

Aladinerprodip, an online e-commerce platform offering multiple solutions, has suspended all operations after its Chief Executive Officer (CEO) Mehedi Hasan Moon misappropriated millions of taka by publishing attractive advertisements and misleading ordinary customers.

The CEO of Aladinerprodip is currently at large with no cases pending against him. The e-commerce platform has a total of Rs 5.21 crore deposited in two private banks, BRAC Bank and City Bank, but the accounts have been frozen.

Mehedi Hasan Moon says he wants to return money to customers and has approached the authorities. However, he has not received a clear decision from the Criminal Investigation Department (CID), Bangladesh Bank or the Ministry of Commerce.

A year and a half ago, the Ministry of Trade received a list of 36 Aladinerprodip customers, but no refunds were made.

The country’s well-known intelligence agency has issued a report on the fraudulent e-commerce company “Aladinerprodip” and recommended that the company make a list of all defrauded customers and return the seized money to them.

The investigation report was recently sent to the Secretary of Commerce. The document proposes legal action against Mehedi Hassan Moon to return the remaining customer money.

In this regard, Deputy Secretary, Central Digital Trade Cell, Ministry of Commerce, Md Sayed Ali told The Business Post, “Legal action will be taken soon after a meeting with relevant stakeholders.”

According to the report, Moon is a final-year honours student from the Department of Sociology at the University of Dhaka. He started the company at a young age, attracting customers with flashy advertisements and raking in several crores of taka in just seven months.

Initially targeting former and current DU students before expanding the business nationwide, the company has since discontinued all of its products despite receiving orders from over a hundred thousand customers.

The report states that all business has ceased for the company. The CEO, Mehedi Hasan Moon, is currently in hiding in the country. While no lawsuits have been filed against him yet, some customers have sent legal notices and are considering legal action if their refunds are not processed.

Aladinerprodip’s Facebook page shows last activity on June 22, 2022, where they discussed a refund mechanism for those who invested money.

Initially focused on attracting customers by offering various discounts, cashback campaigns, vouchers and gift cards, the company adopted the “Group Buying” model, in which significant discounts are given if a large number of customers order a significant amount of a given product at the same time.

People were mainly attracted by flashy ads such as “One-Shot Delivery” and “Nation’s First Student-Based E-Commerce Platform.” From January to June 2020, nearly 100,000 orders were placed under three different promotions.

In the June offer of this year, more than 61,000 customers ordered various products from Aladinerprodip. The last three promotions mainly included expensive items such as motorcycles, refrigerators and mobile phones.

Later, Aladinerprodip’s business began to change. They cut off communication with customers and even closed their call center. Customers complained that those who tried to contact frequently were directly blocked from the group and Facebook page.