A Dhaka court today (October 30) sentenced Farmers Bank's former audit committee chairman Mahbubul Haque Chisty alias Babul Chisty and his son Rashedul Haque Chisty to 12 years' rigorous imprisonment for laundering Tk 160 crore from the bank.

Judge Syed Arafat Hossain of the Special Judge's Court-4 of Dhaka passed the order.

At the same time, Babul Chisty's wife Ruzy Chisty and Farmers Bank's former first vice-president Masudur Rahman Khan were also sentenced to five years' rigorous imprisonment in the same case.

According to the court verdict, Babul, Rashedul and Ruzy were fined a total of Tk 319 crore. In case of failure to pay the fine, Babul and Rashedul will have to serve two more years in jail while Ruzy will have to serve one more year in jail.

Masudur Rahman was fined Tk 10 lakh, in default of which he will have to serve an additional year in jail.

During today's judgment, Babul Chisty and Rashedul Chisty were present at the court while Ruzy Chisty and Masudur Rahman were declared "fugitives" after their time petitions were dismissed.

The punishment of Ruzy Chisty and Masudur Rahman will be effective from the day of their arrest or surrender, said the judge in his judgment.

On April 10 of 2018, the ACC filed the case against six people, including Babul, with Gulshan Police Station on charges of money laundering amounting to Tk 160 crore.

BDST: 1727 HRS, OCT 30, 2023
MSK/SMS