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Farmers Bank Scam: HC upholds bail of Rashedul

The High Court (HC) on Tuesday upheld the bail of Rashedul Haque Chisty, the son of former chairman of Farmers Bank audit committee Mahbubul Haque Chisty, in a money laundering case.

The bench of Justice Md Nazrul Islam Talukdar and Justice Mohi Uddin Shamim passed the order.

Advocate AF Hasan Arif and advocate Shahriar Kabir stood for the accused while advocate Md Khurshid Alam Khan represented the Anti-Corruption Commission (ACC). Additional Attorney General SM Munir stood for the state.

ACC had filed a review petition with the High Court challenging the bail order of Chisty that was granted by a subordinate court on May 19.

Advocate Shahriar Kabir said Chisty will have to remain behind bars as the trial of another corruption case is underway against him.

In 2018, the ACC filed several cases against 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. Investigations carried out by the Bangladesh Bank found massive irregularities in the bank’s loan disbursement along with Tk 159 crore of default loans in 2017.

On July 21, 2020, ACC filed a case against six people including Mahbubul Haq Chisty.

ACC spokesman Pranab Kumar Bhattacharya told UNB that the case was filed against them for their alleged involvement in embezzling Tk 63 crore from Farmers Bank.

Deputy Assistant Director of ACC Shahjahan Meraz filed the case with Dhaka-1 Integrated District Office.

The five others are – Bakshiganj Jute Spinners Ltd Managing Director Md Rashedul Haque Chishty, Padma Bank’s suspended Executive Vice President Mohammad Jahangir Alam Majumder, Al-Farooq Bags Ltd Chairman Chowdhury Al Farooq, its Managing Director Redwanul Kabir Chowdhury and the company’s Director Kabir Chowdhury.

According to ACC, the accused in collusion with each other took Tk 40.79 crore form Farmers Bank’s Motijheel Branch violating rules and embezzled the money.

The money stood at Tk 62.96 crore along with interest on December 31, 2019.

Source: United News of Bangladesh