HC dismisses prison sentence of businessman Giasuddin in money laundering case

The High Court has dismissed the seven-year prison sentence and acquitted businessman Giasuddin Al Mamun in a case filed over allegations of money laundering during the period of the 1/11 government or caretaker government.

The verdict was pronounced by a HC bench of Justice AKM Asaduzzaman and Justice Syed Enayet Hossain today (5 December).

Lawyers Omar Sadat and Sabbir Hamza stood for the petitioner in the court, while lawyer Asif Hasan represented the Anti-Corruption Commission.

ACC had filed the case with Cantonment police station in the capital on 22 September 2011.

According to the case statement, Chairman of BTL and Globe Pharmaceuticals M Shahzad Ali used to be the Bangladeshi agent of a contractor firm based in The Netherlands.

Shahjad had received the tender of a railway signaling modernisation project of the Dutch company. Gias Uddin asked for an illegal commission during the finalisation of the work order of that project in 2003 and threatened to cancel the work order upon not receiving the commission, the case statement said.

Shahjad deposited Tk6,01,57,762 crore into Gias Uddin's account with London's Natwest Bank in 2004, the case statement added.

On 24 April 2019, Judge Aby Syed Diljar Hossain of Dhaka's Special Judge's Court-3 sentenced Gias Uddin to seven years in prison in this case and fined him Tk12 crore.

Besides, the court also ordered to confiscate Tk6.01 crore found in Gias Uddin's account with Natwest Bank.

Later, Gias Uddin filed an appeal with the HC in this regard. Today's verdict came after a hearing on this appeal.

Gias Uddin was arrested on 30 January 2007. He was released from prison on 6 August this year.

On 26 April 2008, Deputy Director of ACC Md Ibrahim filed a charge sheet against Gias Uddin.

The court denied Gias Uddin's bail plea and framed charges against him on 31 October 2008.

During the trial, the court took statements from nine out of 10 witnesses in the case.