Thursday, 9 December, 2021
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HC stays bail of Rashed Chisti in money laundering case

HC stays bail of Rashed Chisti in money laundering case

The High Court (HC) on Thursday stayed bail of Rashedul Hoq Chisti in a case lodged over alleged embezzlement and laundering abroad around Taka 160 crore.

“Rule with direction,” a High Court division virtual bench of Justice Md Nazrul Islam Talukder and Justice Ahmed Sohel passed the order.

Advocate Khurshid Alam Khan took part in today’s hearing for the Anti-Corruption Commission (ACC), while Deputy Attorney General AKM Amin Uddin Manik stood for the state. Advocate Shahriar Biplob argued for the accused.

“The court has issued a new rule with direction in this regard and his bail will remain stayed until the disposal of the rule,” Advocate Khan said.

Rashed, son of former audit committee chairman of Farmers’ Bank Mahbubul Hoq Chisti, was given bail by the trial court on May 19, which was eventually stayed by the Appellate Division Chamber Judge Court. The Appellate Division regular bench also upheld the order.

The ACC later filed a regular appeal against the trial court order with the High Court, and the court after hearing the plea, came up with today’s order.

The anti-graft body filed the case on April 10, 2018, and approved the charge-sheet against Mahbubul Hoq Chisti alias Babul Chishti, his wife Rosy Chishti, son Rashedul Hoq Chishti, sacked SVP of Farmers’ Bank Zia Uddin Ahmed and sacked vice president of the bank Mohammad Masudur Rahman Khan on October 17, 2019.