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Dhaka Tribune

Farmers Bank scam: Mahbubul Haque Chisty, wife and son sentenced

Court orders to confiscate their properties

He transacted Tk159.95 crore through 25 accounts

Update : 30 Oct 2023, 05:26 PM

A Dhaka court on Monday sentenced Mahbubul Haque Chisty alias Babul Chisty, former chairman of Farmers Bank audit committee, and his son Rashedul Haque Chisty to 12 years of jail each in a graft case over laundering around Tk159.95 crore.

The court also sentenced Babul Chisty’s wife Rosy Chisty and former first vice president of the bank Masudur Rahman Khan to five years of imprisonment each in the case.

Dhaka Special Judge Court-4 Judge Syed Arafat Hossain handed down the sentences in presence of Babul Chisty and his son Rashedul, said the court’s bench assistant Belal Hossain.

The court fined Babul Chisty, his wife and son double the amount of the money they laundered, meaning they will have to pay over Tk319.90 crore, in default of which the father and the son will have will serve two more years in prison while Rosy will have to stay in jail for one year.

The Dhaka Special Judge Court also ordered the authorities concerned to confiscate the three convicts’ properties in favour of the state.

Another accused Masudur Rahman Khan was fined Tk10 lakh, in default of which he will have to serve one more year in jail, and an order was issued to confiscate all his properties.

The court issued arrest warrants for Rosy Chisty and former vice president Masudur after rejecting their bail plea.

According to the case statement, Babul Chisty, in collaboration with other officials of the bank, deposited and withdrew a huge amount of money in cash and through pay-order after opening saving accounts with Farmers Bank’s Gulshan branch.

Babul transacted Tk159.95 crore through 25 accounts in the name of several firms owned by his wife, son and daughter.

Anti-Corruption Commission (ACC) filed the case against the four with Gulshan Police Station on April 10, 2018.

On October 30, 2019, the court framed chargesheet against the accused. The same court set Monday for delivering the judgment after ending arguments from both sides.

After verifying testimonies from 15 witnesses, the court handed down the judgment in presence of two out of four accused.

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