Former chief justice Surendra Kumar Sinha was the principal beneficiary of the illegal loans approved for him in violation of the Farmers Bank’s credit policy, a Dhaka court observed in its verdict yesterday.

The court sentenced Sinha to seven years in prison for money laundering and another four years for breach of trust to be served concurrently.

Judge Shaikh Nazmul Alam of the Special Judge’s Court-4 also sentenced eight others to jail terms of three to four years in a graft case filed by the Anti-Corruption Commission against Sinha and 10 others. Seven of the accused were present at the packed courtroom.

Sinha, who is believed to be in the USA, was fined Tk 45 lakh, in default of which, he will have to serve an additional six months in jail.

The court asked the authorities concerned to confiscate Tk 78 lakh from a Dhaka Bank, now Padma Bank, account of Sinha’s nephew Shankhajit Sinha in favour of the state. Justice Sinha deposited the money into Shankhajit’s account.

The 182-page verdict mentioned that the five convicted former officials of Farmers Bank’s Gulshan branch illegally and dishonestly forwarded the credit proposals to its head office for sanctioning two loans of Tk 2 crore each, violating the banking laws.

Violating the credit policy of the bank, the head office then illegally and dishonestly approved the loans that were disbursed in the account of the disgraced chief…

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