The High Court has acquitted SM Golam Kibria Shamim, widely known as GK Shamim, of a 10-year prison sentence in a money laundering case.
The verdict was delivered on Thursday by the bench of Justices ASM Abdul Mobin and Zabi Uddin Hossain, following final hearings on his appeal.
Previously, on July 17, 2023, the Dhaka Special Judge Court-10 had sentenced Shamim to 10 years of rigorous imprisonment and fined him for laundering money.
Seven of his bodyguards were also sentenced to four years in prison each, along with financial penalties totaling over Tk 3.83 crore each.
During the 2019 crackdown on illegal casino operations, Shamim was arrested from his Niketan residence. Authorities seized Tk 1.81 crore in cash, $9,000 in foreign currency, 165 crore in FDRs, 32 cheque books, eight firearms, and liquor from his home.
He was then facing multiple charges, including arms possession and illegal wealth accumulation.
At the time of his arrest, Shamim’s construction firm, GK Builders, held contracts for at least 22 major government projects worth over Tk 6,000 crore, many of which were later canceled. His 194 bank accounts were also frozen.
The money laundering case was filed on September 21, 2019, by RAB-1 under the Money Laundering Prevention Act.
According to the case, Shamim had amassed vast illegal wealth through extortion, drug, and gambling businesses, and transferred a portion abroad.
In 2020, CID submitted formal charges against Shamim and his seven bodyguards. The trial began in November that year, culminating in the 2023 conviction.
Despite this acquittal, GK Shamim remains convicted in a separate arms case, where he received a life sentence.
