Renowned businessman Amin Ahmad sent to jail in money laundering case
Amin had applied for bail in the case, but the lower court refused his plea
A Dhaka court today (10 July) sent renowned businessman Amin Ahmad to jail in a case filed by the Anti-Corruption Commission (ACC) over laundering of Tk110 crore.
Metropolitan Sessions Judge Mohammad As-Shams Jaglul Hossain passed the order after the accused surrendered before the court in compliance with a 30 June Supreme Court order.
Amin applied for bail in the case, but the lower court refused his plea.
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Former BASIC Bank chairman Sheikh Abdul Hye Bacchu and his wife Shirin Akhtar are also accused in the case.
Earlier on 26 May, the ACC approved the charge sheet in the case against Bacchu, his family members and Amin Ahmad on charges of embezzlement and money laundering amounting to approximately Tk95 crore.
Later, the ACC investigating officer submitted the charge sheet to the court.
The ACC investigation revealed that on 8 July 2012, Bacchu made an agreement with Amin to purchase a 30.25-katha plot in the Cantonment Bazaar area. Despite the land's actual value being Tk110 crore, Bacchu paid only Tk10 crore at the time of signing the deed or contract.
According to the commission, Bacchu attempted to conceal his illegal earnings by undervaluing the land by Tk94.75 crore in the registration, thus evading over Tk8.52 lakh in tax.
This was the first charge sheet against Bacchu for illegally acquiring assets.
The case was filed on 3 October 2023 by Nurul Huda, deputy director of the ACC's Dhaka district office.
Other defendants in the case include Bacchu's brother Sheikh Shahriar Panna, his sons Sheikh Rafa Hye and Sheikh Sabit Hye Anik.
Previously, in June 2023, the ACC filed charge sheets in court against Bacchu and 147 others in 59 loan scam cases filed nearly eight years ago, involving the embezzlement of Tk2,266 crore from BASIC Bank.
The ACC investigation found that Bacchu, along with various business owners and numerous officials, abused their power by taking loans from the bank against fake, overvalued, or non-existent collaterals. The accused embezzled approximately Tk2,266.68 crore from BASIC Bank under the guise of loans.
The accused include Bacchu, company secretary of the bank Shah Alam Bhuiyan, and 46 other bank officials, along with 101 borrowers. Bacchu and Shah Alam were involved in 58 of the 59 cases.
