Dhaka, Sept. 27 -- The Appellate Division on Sunday rejected bail petitions of Destiny Group Managing Director Rafiqul Amin in two money laundering cases.

A four-member bench, headed by Chief Justice Syed Mahmud Hossain, turned down the pleas after a hearing, UNB reports.

"The Destiny MD will have to remain in jail," said Khurshid Alam, a counsel of the Anti-Corruption Commission (ACC).

On August 20, the High Court turned down his bail petitions, prompting Rafiqul to move the apex court.

The ACC filed the money-laundering cases against Destiny-2000 chairman, managing director and 20 others. They stand accused of misappropriating Tk 32.85 billion (3,285 crore) of the investors' money.

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