Dhaka, May 10 -- The Criminal Investigation Department (CID) of police has arrested a businessman on charges of embezzling over Tk 1.2 billion from hundreds of clients under the guise of real estate and hotel investments.

Hayder Kabir Mithun, the deputy managing director of Holistic Home Builders Limited, was detained at Shahjalal International Airport in the early hours of Sunday upon his return from abroad.

He was arrested in connection with a fraud case filed at Uttara East Police Station.

According to a CID media statement, the company operated an office in Uttara Sector 4 and campaigned to sell 36 shares of a 9-storey building planned on a 10-katha or around 0.13 hectares plot near Uttarkhan.

Each share was priced at Tk 1.5 milli...