High Court upholds prison sentence for former Jamuna Bank chairman

The High Court has upheld a lower court’s order for one year in jail for former chairman of state-owned Jamuna Bank Arifur Rahman in a 2012 case over bank-cheque frauds.

Rahman signed cheques to repay Tk 150 million in loans taken from Borak Real Estate in 2012 which bounced due to insufficient balance, according to case details.

The company started the case with the Chief Metropolitan Magistrate's Court in Dhaka.

Last year, the court delivered its verdict sentencing Rahman to one year in prison and a fine of Tk 5 million. He was ordered to pay the plaintiff Tk 155 million.

Dhaka’s fourth Additional Metropolitan Sessions Judge Ruhul Amin delivered the verdict.

Rahman appealed against the verdict but Justice Md Rais Uddin turned down his plea on Tuesday.

The defence needs to repay half of the amount before moving an appeal in a case under the Negotiable Instruments Act, said the plaintiff’s lawyer SM Baksh Kollol.

“Rahman has to pay back the amount within 60 days as per the High Court order,” he said adding that his client had already cleared Tk 75 million.