Basundhara boss gets 8 yrs for tax evasion
Monday, 1 October 2007
A special judge's court in Dhaka sentenced Basundhara Group chairman Shah Alam to eight years of imprisonment Sunday on twin charges of concealing wealth information and evading tax, reports bdnews24.com.
The court also fined him Tk 83 million (8.3 crore), in the case of default on which the convict will have to stay one year more in jail.
In the same case, the court also sentenced Shah Alam's wife Afroza Begum and their three sons-Saadat Sobhan, Shafayet Sobhan and Sayem Sobhan-to eight years of imprisonment.
Each of them was fined Tk 83 million or will have to serve one year more in prison in case of failure to pay the fine.
All the convicts are on the run. The sentences will be effective from the day of surrender or arrest, the court said.
Judge M Shahed Nooruddin of the Special Judge's Court-3, sited at Sangsad Bhaban, handed down the verdict.
On charges of abetting the convicts in dodging tax, another accused named SM Quddus has been sentenced to three years of imprisonment.
Besides, the business firm Basundhara Industrial Complex has been fined Tk 83 million and its directors have been sentenced to further eight years of imprisonment for corruption in the company.
It means Shah Alam, his wife and the three sons have to serve the sentences and pay the fine.
Punishments for both offences will be simultaneously executed.
Also, the court has ordered confiscation of Tk 225 million possessed by the convicts.
The National Board of Revenue filed the case on July 25, accusing Basundhara Industrial Complex, its managing director Akbar Sobhan, better known as Shah Alam, directors Afroza Begum, Saadat Hossain, Shafayet Hossain, Sayem Sobhan, deputy managing director Mostafizur Rahman and director SM Quddus, among others.
The case statement said the accused dodged Tk 82.7 million in taxes.
The court also fined him Tk 83 million (8.3 crore), in the case of default on which the convict will have to stay one year more in jail.
In the same case, the court also sentenced Shah Alam's wife Afroza Begum and their three sons-Saadat Sobhan, Shafayet Sobhan and Sayem Sobhan-to eight years of imprisonment.
Each of them was fined Tk 83 million or will have to serve one year more in prison in case of failure to pay the fine.
All the convicts are on the run. The sentences will be effective from the day of surrender or arrest, the court said.
Judge M Shahed Nooruddin of the Special Judge's Court-3, sited at Sangsad Bhaban, handed down the verdict.
On charges of abetting the convicts in dodging tax, another accused named SM Quddus has been sentenced to three years of imprisonment.
Besides, the business firm Basundhara Industrial Complex has been fined Tk 83 million and its directors have been sentenced to further eight years of imprisonment for corruption in the company.
It means Shah Alam, his wife and the three sons have to serve the sentences and pay the fine.
Punishments for both offences will be simultaneously executed.
Also, the court has ordered confiscation of Tk 225 million possessed by the convicts.
The National Board of Revenue filed the case on July 25, accusing Basundhara Industrial Complex, its managing director Akbar Sobhan, better known as Shah Alam, directors Afroza Begum, Saadat Hossain, Shafayet Hossain, Sayem Sobhan, deputy managing director Mostafizur Rahman and director SM Quddus, among others.
The case statement said the accused dodged Tk 82.7 million in taxes.