Court rejects Chisty's bail petition

The High Court (HC) yesterday rejected a bail petition filed by Mahabubul Haque Chisty, former chairman of Farmers Bank Audit Committee, in connection with a Tk 160 crore laundering case, and sent him to jail.

The bench of Justice Obaidul Hassan and Justice SM Kuddus Zaman passed the order after holding final hearing on the petition.

Mahbubul cannot walk out of jail following the HC order, advocate Khurshid Alam, lawyer for the Anti-Corruption Commission (ACC) said.

On April 10, ACC filed a case with Gulshan Police Station, accusing Mahbubul and five others in this connection.

The other accused are Mahbubul's wife Ruzi Chisty, son Rashedul Haque Chisty, Senior Vice President Zia Uddin Ahmed, First Vice President Muhammad Masudur Rahman Khan, and ex-manager of the bank's Gulshan Corporate Branch Delwar Hossain.

ACC found that between November 18, 2013 and January 30 this year, Tk 138.82 crore was deposited with the current accounts of Bakshiganj Jute Spinners Ltd, owned by Mahabubul's son, wife and daughter, at Farmers Bank's Bakshiganj and Gulshan branches.

Later, the entire amount was withdrawn in cash.

Mahbubul, Rashedul, Zia and Masudur landed in jail on April 10 after ACC arrested them in connection with the money laundering case while Ruzi Chisty has secured bail from the HC and a lower court.

Meanwhile, on June 6, the HC issued a rule asking the government and ACC to explain why Mahabubul should not be granted bail in the case.

The HC yesterday heard arguments from the respondents on the rule and rejected the bail prayer.

Barrister Moudud Ahmed appeared for Mahbubul.