HC scraps bail plea of Regent’s Shahed in money laundering case

The High Court (HC) on Monday scrapped a plea of Regent Group chairman Md Shahed alias Shahed Karim, for bail in a case lodged under Money Laundering Prevention Act.

A High Court division virtual bench of justice M Enayetur Rahim and justice Sardar Md Rashed Jahangir passed the order.

Lawyer Fazlur Rahman moved the plea for Shahed, while lawyer Khurshid Alam Khan vehemently opposed the petition for the Anti-Corruption Commission (ACC).

Criminal Investigation Department (CID) inspector Ibrahim Hossain filed the case on 25 August, 2020, against Shahed and Regent Group managing director Masud Pervej for amassing Tk 110 million (11 crore) through fraud and laundering the money abroad.

Shahed was arrested by RAB from Debhata upazila of Satkhira in the early hours of 15 July 2020, and was airlifted to the capital in the morning. On the other hand, Pervej was arrested from Gazipur on 14 July.

Shahed has already been convicted and sentenced to life imprisonment in an arms case.