Rashed Chisty’s bail in money laundering case, cancelled

The Appellate Division has cancelled the High Court (HC) order that granted bail to Rashedul Haque Chisty in a money laundering case involving around Tk160 crore.

Following the order, Rashed Chisty — son of former Farmers Bank audit committee Chairman, Mahbubul Haque Chisty, who is also in prison now — will have to stay behind bars, said Anti-Corruption Commission (ACC) lawyer Khurshid Alam Khan.

The Appellate Division bench comprising the chief justice, on Tuesday, also tasked the lower court to dispose of the case promptly.    

In 2018, a case was filed in Dhaka against a number of top Farmers Bank officials, including the father-son duo, on charges of embezzlement and laundering around Tk160 crore.

On 19 May last year, Rashed Chisty was granted bail by lower courts in three cases, including money laundering and corruption cases. Later, the ACC applied to the High Court (HC) seeking a stay order on his bail.

As the HC in January this year upheld the lower court order, the ACC moved to the Appellate Division, challenging the order. On 1 February, the Appellate Division stayed the HC bail of Rashed Chisty.

Former Attorney General, AF Hasan Arif, represented Rashedul Haque in court, while Khurshid Alam Khan stood in favour of the ACC, and Additional Attorney General Sheikh Mohammad Morshed appeared for the state.