Graft case: HC stays bail of Rashed Chisti

The Appellate Division of the Supreme Court today, Monday, has stayed the bail of Rashedul Haque Chisti, son of former audit committee chairman of Farmers Bank Ltd, Mabubul Haque Chisti, in a case lodged over alleged embezzlement and laundering abroad around Tk 1.6 billion (160 crore), reports BSS.

A four-judge virtual bench Appellate Division headed by chief justice Syed Mahmud Hossain passed the order today.

Lawyer Khurshid Alam Khan took part in today’s hearing for the Anti-Corruption Commission (ACC), while senior lawyer AF Hasan Arif argued for the accused.

“The Appellate Division stayed Rashed‘s bail for four weeks and asked him to file a regular appeal,” Lawyer Khan said.

Rashed was granted conditional bail on 2 June, 2019, but ACC appealed against the High Court order.

On 19 May, he was granted bail by the Dhaka lower court in multiple cases. Later, the ACC applied for the stay of bail.

According to the case, Mohammad Mahbubul Haque Chishti alias Babul Chishti, wife Rosie Chishti, son Rashedul Haque Chishti, first president of Farmers Bank Muhammad Masudur Rahman Khan, senior vice president Zia Uddin Ahmed and former manager of the bank’s Gulshan corporate branch and current senior executive vice president Delwar Hossain were arrested on 10 April 2018 on charges of embezzlement of around Tk 1.6 billion.