The High Court on Monday refused to grant anticipatory bail to Shahjahan Bablu, owner of SB Exim Bangladesh, a concern of Jhenaidah-based SB Group, in two cases filed on charges of embezzling Tk 2.38 billion and laundering money Tk 945.31 million.
The court, however, asked Shahjahan Bablu to surrender in the concerned lower court in 8 weeks.
The High Court bench of Justice Md Nazrul Islam Talukder and Justice SM Mozibur Rahman passed the order after hearing two anticipatory bail petitions filed by Shahjahan Bablu.
Lawyer Nahid Sultana Juthi appeared in the hearing on behalf of Shahjahan Bablu, while deputy attorney general AKM Amin Uddin Manik represented the state.
According to the case statement, Bablu used 72 letters of credit (LC), issued by five foreign shell banks to the SB Exim, to siphon off Tk 2.38 billion through 188 export bills with the help of business associates and bank officials.
Moreover, Bablu, with the help of other officials, laundered 945.31 million to two companies in Singapore through a banking channel in the name of decorating those offices, said to have set up to run export activities and business promotion.
Customs Intelligent and Investigation Directorate (CIID) filed one case with Motijheel Police Station in Dhaka on November 7 in 2019 and the Economic Crime Squad of Police filed another case with the same police station on September 8 in 2019.
