Home
+
Babul Chisty and several others were convicted of embezzling Tk 1.6 billion
Published : 30 Oct 2023, 01:09 PM
A court has sentenced ex-Farmers Bank Audit Committee Chairman Mahbubul Haque Chisty, aka Babul Chisty, and his son Rashedul Haque Chisty to 12 years in prison over the embezzlement of Tk 1.6 billion.
Dhaka Special Court-4 Judge Syed Arafat Hossain delivered the verdict on Monday.
The court also handed five years in jail to Babul's wife Rosy Chisty, and former vice president of the bank Mahmudur Rahman Khan, confirmed lawyer Meer Ahmed Ali Salam, legal counsel for the Anti-Corruption Commission.
The court imposed a fine of Tk 3.1 billion, double the embezzled amount on Babul, his wife, and his son. The jail terms for Babul and Rashedul would be extended by another two years, and for Rosy, by another year, if they fail to pay.
The state will seize all property of the accused, the court ordered.
Another convict, Masudur Rahman, will have to pay a Tk 1 million fine. The court ordered the seizure of all of his property as well.
Babul was brought to court from jail for the verdict, while his son Rashedul Haque, out on bail, was present as well.
Rosy and Masudur, however, did not show up. The court revoked their bail order and issued arrest warrants against them. Both Babul and Rashedul were taken to jail after the verdict was announced.
On Apr 10, 2018, the Anti-Corruption Committee filed a case with the Gulshan Police Station over the embezzlement of Tk 1.6 billion. According to the case dossier, Babul was accused of violating banking rules by depositing or withdrawing ‘huge’ amounts of money through an account at the Gulshan branch of the bank.
The charges against him also include making suspicious transactions of nearly Tk 1.6 billion by using the names of his wife, children, and firms owned by the members of his family through 25 accounts in different banks in cooperation with some Farmers Bank officials.
The court indicted four, including Babul, on Oct 30, 2019, and started the trial against them.
