The High Court on Wednesday observed that the money laundering prevention law should be amended to increase offenders’ punishment to life term from the existing maximum sentence of 12 years.
The bench of Justice Md Nazrul Islam Talukder and Justice Mohi Uddin Shamim came up with the observation during the bail hearing of convicted Janata Bank officer SM Shoab Ul Hoque.
Shoab was jailed for 10 years by the lower court on September 10, 2018 for helping Bismillah Group’s eight executive directors, including managing director Khaza Solaiman Anwar Chowdhury, in illegally transferring the company’s Tk 15.33 crore to the directors’ individual accounts.
Khaza Solaiman and the seven directors of the company were also sentenced for 10 years in jail for the same charge of laundering of the money from the company.
All the convicts appealed earlier in the High Court challenging their sentences.
Shoab prayed for bail in the High Court stating that he has been in jail since October 2018. The court refused to grant bail to Shoab.
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