Some neighbouring villagers strangled a fuel oil trader following a dispute over money and buried the body beside their home at Kalitara Bazar in Sadar upazila of Noakhali on Thursday, said police.
Arif Hossain, 28, son of Abul Khayer of Sallaghatia village, ran an oil shop at the Bazar.
Police recovered his body Thursday night from under the earth 12 hours after he had gone missing.
Md SM Ashraffuzaman, additional superintendent of police, said Arif came out of home by a motorbike for collecting arrears from people Thursday morning.
In the meantime, acquaintances Ashiquar Rahman Pias and Sumon called him over cellphone to come to their house, he added.
When he went there they killed him and snatched the motorbike.
Afterwards, Pias and Sumon visited a local Baishakhi fair by riding the motorbike.
A mob beat them and handed them over to police as they stalked a girl there.
On confessional statement by the duo over the murder, police also arrested Nur Nahar, Tama and Nur Jahan in connection with the murder.