Home News Ruling of investigation of money laundering charges against S Alam rejected

Ruling of investigation of money laundering charges against S Alam rejected

by Afonso
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The Appellate Division has rejected the High Court’s ruling in the investigation into the allegations of money laundering worth 1 billion dollars against S Alam. However, Anti-Corruption Commission (ACC), CID and Bangladesh Financial Intelligence Unit (BFIU) can investigate complaints on their own initiative.

The 6-member appellate bench led by Chief Justice Obaidul Hasan gave this order on Monday.

Earlier, the court heard the statement of ACC, S Alam Group and Supreme Court lawyer Saidul Haque Sumon for about one and a half hours.

On August 4th, when an investigative report published in the English daily ‘The Daily Star’ about S Alam Group’s money laundering abroad was brought to the notice of the High Court, the court issued a spontaneous rule expressing its displeasure about sending money abroad without the approval of Bangladesh Bank. The High Court wants to know why the failure of the concerned organizations to stop money laundering should not be declared illegal. At the same time, the court directed ACC, BFIU and CID to investigate the complaint.

Later, in view of S Alam’s appeal against it, the chamber court suspended the High Court’s ruling and sent it to the full bench for hearing. After the hearing, the Appellate Division rejected the High Court’s self-motivated rule.



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