Farmers Bank scam: Babul Chisty, wife, son jailed
A court in Dhaka on Monday sentenced four people, including former chairman of Farmers Bank (now Padma Bank) audit committee Mahbubul Haque Chisty alias Babul Chisty, his wife and son, to different terms in jail in a case filed over embezzling Tk 1.60 billion from the bank 10 years ago.
The court also fined them about Tk 3.20 billion in the case.
Judge Syed Arafat Hossain of Dhaka’s special judge court-4 delivered the verdict on Monday. Court’s bench assistant Billal Hossain confirmed the matter to Prothom Alo.
The court sentenced Mahbubul Haque Chisty and his son Rashedul Haque Chisty to 12 years in prison jail, and Rosey Chisty, wife of Mahbubul Haque Chisty, and then Farmars Bank first vice president Mohammad Masudur Rahman Khan to five years in prison under the Money Laundering Prevention Act.
The court also ordered the seizure of all moveable and immoveable properties owned by Mahbubul Haque Chisty, his wife Rosey Chisty, and son Rashedul Haque Chisty .
While delivering the verdict, the judge said people involved in money laundering are the destroyers of the economic backbone of the country, and they are the enemy of the state. Such kinds of financial crimes do not only damage the foundation of the country’s economy, also create non-confidence on banking management among investors and general people. It hampers the development and prosperity of the country, and that cannot be allowed anymore.
The court further said, it is crucial to strictly follow financial rules and regulations by all concerned including the banks’ board of directors, officials and employees with honesty and competency in addition to legal actions so that no crimes like money laundering will ever happen in future.
According to the case statement, Mahbubul Haque Chisty opened 25 accounts at various branches of Farmers Bank from 1 June 2013 to 31 January 2018 using the names of his wife and son, and embezzled about Tk 1.60 billion from the bank through abusing power and various irregularities.
Later, the Anti-Corruption Commission filed a case over the incident under the Money Laundering Prevention Act on 10 April 2028 and police pressed charges against four people including Mahbubul Haque Chisty on 10 July 2019.