Ex-Army Chief and Executives Sentenced in Major Embezzlement Case

A Bangladeshi court sentenced former army chief Harunur Rashid and 18 others to 12 years in prison for embezzlement and money laundering. Rashid and Rafiqul Amin were fined Tk 4,515.57 crore. The defendants were involved in Destiny Multipurpose Co-Operative Society Limited, which defrauded investors of significant funds.

A Bangladeshi court has delivered a 12-year sentence to former army chief Harunur Rashid along with 18 others for their involvement in a massive embezzlement and money laundering case. This decision, announced on Wednesday, also includes fines surpassing Tk 4,500 crore on Rashid and other executives.

The court found Rashid and Rafiqul Amin, head of Destiny Multipurpose Co-Operative Society Limited, guilty of funneling funds away from investors through their mismanaged MLM operations. The Dhaka Special Judge Court-4 labelled the fine amount as twice what the defendants misappropriated.

As the verdict was read, Rashid, among others present, was escorted to prison, while other convicts remain at large. This case highlights the financial impact on eight lakh investors, while Rashid's prior army tenure from 1996 to 2001 underscores his prolific career pre-disgrace.

(With inputs from agencies.)