embezzlement of Tk 160cr
HC rejects Babul Chistys bail
STAFF REPORTER
The High Court yesterday rejected the bail petition of Farmers Banks former Audit Committee Chairman Mahabubul Haque Chisty, also known as Babul Chisty, in connection with a case filed over embezzlement of Tk 160 crore and irregularities in loan disbursement. An HC-bench of Justice Obaidul Hasan and Justice S M Kuddus Zaman came up with the order by rejecting his bail petition.
Barrister Moudud Ahmed and Barrister Abdullah AH Mahmud stood for Chisty while advocate Khurshid Alam Khan for the Anti-Corruption Commission. Earlier on June 7, the HC issued a rule asking the government to explain in three weeks as to why Mahabubul Haque Chisty should not be granted bail in the case.
Earlier on May 29, a Dhaka court rejected the bail plea of Babul. Later, he filed a petition with the High Court against the lower court order and sought bail in the case.
The Anti- Corruption Commission (ACC) arrested four people, including Farmers Banks former Audit Committee chairman Mahabubul Haque Chisty, in the case on April 10.
The ACC filed the case with Gulshan Police Station, accusing six persons, including Mahbubul Haque Chisty after it found that between November 18, 2013 and January 30 this year, Tk 138.82 crore was deposited in the current accounts of Bakshiganj Jute Spinners Ltd, owned by Mahabubuls son, wife and daughter, maintained with Farmers Banks Bakshiganj and Gulshan branches. Later, the entire amount was withdrawn in cash.
Farmers Bank was established in June 2013 while investigations of Bangladesh Bank found massive irregularities in the banks loan disbursement along with a huge amount of default loans in 2017.
