Rashedul Haque Chisty has been in jail since his arrest in a money laundering case
The Appellate Division on Tuesday denied bail to Rashedul Haque Chisty, the son of former chairman of Farmers Bank audit committee Mahbubul Haque Chisty, in a money laundering case.
A bench of five justices under the chief justice issued the order and directed the judicial court to settle the case quickly.
Advocate AF Hasan Arif stood for the accused while advocate Md Khurshid Alam Khan represented the Anti-Corruption Commission (ACC) at the court. Additional Attorney General Sheikh Mohammad Ershad stood for the state.
Md Khurshid Alam Khan said on January 26 the High Court upheld the bail of Rashedul Haque Chisty and after the bail is cancelled, he will have to remain behind bars until the case is under trial.
Later, the ACC appealed for suspending the order with the Appellate Division.
On February 1, the Appellate Division suspended the bail order passed by the High Court and gave him permission to appeal again to the higher court. On Tuesday, both of his bail appeals got rejected.
On April, 10, 2018, the ACC filed a case against Mahbubul Haque Chisty, his wife Rosey Chisty, son Rashedul Haque Chisty, first president of Farmers Bank Md Masudur Rahman Khan, senior vice president Zia Uddin Ahmed and senior executive vice president Delwar Hossain with Gulshan police station under the Money Laundering Prevention Act.
The accused were allegedly involved in embezzling around Tk160 crore.
On May 19, 2020, a judicial court passed bail orders for Rashedul Haque Chishty in several cases.
The ACC later filed a review petition with the High Court challenging the bail order.
Mahbubul Haque Chisty and Rashedul Haque Cishty have been staying in jail since their arrest in the money laundering case.