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CHATTOGRAM, May 3, 2026 (BSS) – A Chattogram court has sentenced businessman Gias Uddin, also known as Kusum, owner of Tanha Steel in Sitakunda, to 11 years in prison for embezzling and laundering Tk 47 crore from AB Bank Limited's Jubilee Road branch in the city.

Judge Mizanur Rahman of the Chattogram Divisional Special Judge's Court delivered the verdict today.
Another accused, Mohammad Nurunnabi, was acquitted due to lack of evidence. The court sentenced Gias Uddin to five years' imprisonment under Section 409 of the Penal Code and one year under Section 420, based on the testimony of 12 witnesses presented by the Anti-Corruption Commission (ACC).

The court also sentenced him to five years of rigorous imprisonment under Section 4 of the Prevention of Money Laundering Act, 2012, and fined him Tk 47 crore 49 lakh 73 thousand 885. In default, he will have to serve an additional one year in prison.

Gias Uddin was absconding during the delivery of the verdict, and an arrest warrant has been issued against him. The trial began on November 7, 2021, after the charges were framed.