Mon, 23 May 2022

46 jailed for misappropriating Tk18.61 billion in Bangladesh

Khalid Umar Malik
14 May 2022, 16:34 GMT+10

DHAKA, Bangladesh - The Destiny Group's top executives' date with destiny has ended in agony, with President M Harun-Ar-Rashid, a former army chief, sentenced to four years in prison and Managing Director Rafiqul Amin sentenced to 12 years in prison for embezzling and laundering money.

In the case that resulted in the charges, 46 people are accused of stealing nearly Tk18.61 billion.

The other 44 suspects received prison sentences ranging from one to ten years, including Chairman Mohammad Hossain, who received a ten-year sentence. Harun-Ar-Rashid was sentenced to the shortest prison term of any of the suspects.

The court also imposed fines totaling Tk23 billion on all suspects.

Destiny's frozen assets and bank deposits were ordered confiscated by the judge.

The fines will be distributed among shareholders and investors. The court established a committee to oversee compensation for victims of misappropriation.

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