KHULNA, May 25, 2025 (BSS) - A Khulna court today sentenced S M Hafizur Rahman, owner of Messers Sheikh Brothers, to 10 years of rigorous imprisonment in a money laundering case.

Md Ashraful Islam, Divisional Special Judge of Khulna, delivered the verdict in the absence of the accused this afternoon.

The court also imposed a fine of Tk 10,000 on the convict, in default, he will have to serve an additional one-year imprisonment.

According to the prosecution, Hafizur Rahman, owner of Sheikh Brothers located in Munshipara, Khulna city, opened four Letters of Credit (LCs) at IFIC Bank's Khulna branch between January 19 and February 8, 2000, to import caustic soda from India.

However, without importing any goods, he submitted forged and fraudulent documents to the bank, laundering $119,000, equivalent to Tk 64.83 lakh, to India.

Following the incident, on April 29, 2014, SM Shamim, Deputy Assistant Director of the Anti-Corruption Commission (ACC) Khulna Coordinated District Office, filed a case against Hafizur Rahman with Khulna Police Station.

Subsequently, on April 9, 2017, ACC Assistant Director Abul Hashem submitted the charge sheet to the court, formally accusing Hafizur Rahman of money laundering. The court framed charges against him on November 6 of the same year.