Dhaka, Aug. 8 -- In a significant legal development, the High Court (HC) has acquitted controversial businessman and former Jubo League leader SM Golam Kibria Shamim commonly known as GK Shamim in a money laundering case, effectively overturning a 10-year prison sentence handed down by a lower court.

The verdict was delivered on Wednesday by a HC bench led by Justice ASM Abdul Mobin. The state has already announced its intention to challenge the acquittal in the Appellate Division. Shamim, a prominent government contractor who came to public attention during the 2019 anti-casino crackdown for alleged tender manipulation and illegal arms possession, was initially convicted on 17 July 2023.

A Dhaka court had sentenced him to 10 years' rig...