General

Farmers Bank Scam: HC stays bail of Rashedul

The High Court (HC) on Thursday stayed a subordinate court order granting bail to Rashedul Haque Chisty, the son of former chairman of Farmers Bank’s audit committee Mahbubul Haque Chisty, in a money laundering case.

A virtual bench of Justice Md Nazrul Islam Talukder and Justice Ahmed Sohel passed the order.

Advocate Khurshid Alam Khan stood for the Anti-Corruption Commission (ACC) and Advocate Shahriar Biplob represented Chisty.

Alam said the HC also issued a rule seeking an explanation why the bail order of Chisty should not be cancelled.

Chisty will have to remain behind bars until the rule is disposed of, he said.

A Dhaka court on May 19 granted bail to Chisty. Later, the ACC filed an appeal with the HC challenging the order.

In 2018, the ACC filed several cases against Mahbubul Haque Chishty, the former chairman of the audit and EC committee of Farmers Bank, and his son Rashedul Chisty, the shareholder of the bank.

Five cases were filed against Rashedul.

Farmers Bank was established in June 2013 while investigations of Bangladesh Bank found massive irregularities in the bank’s loan disbursement along with Tk 159 crore of default loans in 2017.

SOURCE: UNITED NEWS OF BANGLADESH