Toufique Imrose Khalidi gets permanent bail in ACC case

bdnews24.com's Editor-in-Chief Toufique Imrose Khalidi has secured a permanent bail from a Dhaka court in a case filed by the Anti-Corruption Commission.

Senior Correspondentand Court Correspondentbdnews24.com
Published : 25 Nov 2020, 07:47 AM
Updated : 25 Nov 2020, 12:23 PM

Senior Special Judge KM Imrul Kayes passed the bail order on Wednesday.

The High Court on Aug 26 granted Khalidi an eight-week anticipatory bail in the case, which was upheld by a three-member bench of the Appellate Division on Sept 21.

The ACC contends that a Tk 420 million fund that Khalidi deposited into different bank accounts came from an “unknown source”.

Khalidi consistently denied any wrongdoing.

Previously on Oct 20, Judge KM Imrul Kayes extended Khalidi's bail to Nov 25 after the High Court’s anticipatory bail expired. This time, the bail has been made permanent, ACC lawyer Mahmud Hossain Jahangir said after the latest hearing.

Advocate Kazi Md Najibullah Hiru, former president of Dhaka Bar Association, and former secretary Mizanur Rahman Mamun led Khalidi’s legal team in the court on Wednesday. The team was aided by Noman Hossain Talukdar, Ehsan Habib, Monir Hossain, Latifur Rahman and Shoebuzzaman Supta.

At the hearing, Najibullah Hiru sought permanent bail for Khalidi after submitting that the court had granted him bail on Oct 20.

The opposing counsel then informed the court that the anti-graft agency had appealed against the bail for Khalidi at the High Court.

The judge subsequently asked whether the High Court had stayed the bail or if there were any documents, to which the ACC lawyer answered in the negative.

The judge then issued the bail order in favour of Khalidi.


LEGAL BATTLE: STEP BY STEP

·   Aug 26: Anticipatory bail from High Court


·   Sept 10: Chamber judge refuses to accept an ACC plea to stay High Court’s anticipatory bail and sends the matter to a full appellate bench


·   Sept 21: Appellate Division dismisses ACC’s petition, rebukes it for wasting time


·   Oct 20: Khalidi gets bail again, this time from the trial court


·   Nov 25: Trial court grants Khalidi permanent bail


·   Meanwhile, ACC goes to High Court to challenge the trial court bail

After bdnews24.com announced a Tk 500 million investment by an asset management company in the news publisher in October 2019, the ACC began examining the deal and subsequently started a case against Khalidi on Jul 30.

ALLEGATIONS AND RESPONSES

In an instant reaction to the High Court ruling in August, Khalidi had said he was 'shocked' and 'surprised' by the charges levelled against him by the ACC while questioning the motive behind the case.

“If you look at the allegations, you'll find that the FIR is riddled with mistakes. There isn't a word of truth in it. This has been done to create confusion among the people and humiliate me," he told reporters at the time.

There are two allegations: one is that the money was earned through unscrupulous means and the other is that BRAC EPL, a subsidiary of BRAC Bank, did not conduct a valuation of the company.

Khalidi said BRAC EPL sent draft versions of information memorandum of bdnews24.com in 2017 after signing a non-disclosure agreement. "We have also submitted copies of our correspondences with BRAC EPL's managing director and CEO,” he said.

BRAC EPL sent another email in 2018, attaching the revised information memorandum of bdnews24.com with the valuation of Tk 3.71 billion or $46 million, which meant each share was valued at Tk 37,100.

After the ACC began examining the so-called allegation of corruption, Khalidi in an article detailed the circumstances under which bdnews24.com entered the deal, where the money was, why he himself sold some of his shares and what happened after the deal.

“The matter has been probed by more than one state agency—publicly as well as, may I dare say now, behind the scenes—because the allegations or rumours/gossips (spread through social media and other means in the lead-up to the ACC move) were of serious nature,” he wrote.

“The cruellest part was, those who orchestrated it all knew all too well that money only changed hands between two companies incorporated in Bangladesh and operated under Bangladesh laws. Yet the vengeful and powerful people were given free rein when they acted from behind the stage. And those who helped them spread the propaganda knew it too. And, again, those who prepared “reports” meant for people at the very top were fully aware of it too.”

“Whose purpose are they trying to serve by trying to harm arguably the lone independent news publisher in Bangladesh which has been credited with many firsts, globally and nationally?

“Why was there an attempt to tarnish the image of both bdnews24.com and the individual who runs it?” he asked.

After receiving a letter from the anti-graft agency, Khalidi appeared in the ACC twice in November 2019.

The letter received by Khalidi on Nov 5 said his statement was required in connection with the allegations of “transferring a huge amount of money” by “hiding location by himself and bdnews24.com”, and “earning wealth inconsistent with his known income through illegal activities”.

The authorities moved swiftly after bdnews24.com announced the investment by LR Global in a report on Oct 13, 2019, saying it will spend the money on the expansion of news automation and creativity.

The disclosure first prompted a decision from the Securities and Exchange Commission to “halt” the deal. For its part, the ACC soon afterwards weighed in, leaving certain bank accounts of Khalidi and bdnews24.com frozen.

Toufique Imrose Khalidi
Editor-in-Chief and Publisher