The High Court (HC) scrapped a plea of Regent Group Chairman Md Shahed alias Shahed Karim, for bail in a case lodged under money laundering prevention act.
A High Court division virtual bench of Justice M Enayetur Rahim and Justice Sardar Md Rashed Jahangir passed the order.
Criminal Investigation Department (CID) inspector Ibrahim Hossain filed the case on August 25, 2020, against Shahed and Regent Group Managing Director Masud Pervej for amassing Taka 11 crore through fraud and laundering the money abroad.
Shahed was arrested by RAB from Debhata upazila of Satkhira on the early hours of July 15, 2020, and was airlifted to the capital in the morning. On the other hand, Pervej was arrested from Gazipur on July 14.
Shahed has already been convicted and sentenced to life imprisonment in an arms case.