Ershad, the 87-year-old former president, was convicted and sentenced to three-year imprisonment by a lower court back in 1992.
The Dhaka High Court today acquitted the Jatiya Party chief of financial irregularities involving gifts worth over Tk 19 million in a case that started in 1991 when he was in office, BDnews24 reported.
Ershad challenged the verdict in the High Court. In June 2012, the Anti-Corruption Commission (ACC) was made a party to the case.
The court forwarded the matter to the chief justice, who then assigned a new bench to hear the matter.
Ershad's counsel Sheikh Sirajul Islam told the media that the High Court overturned the trial court's verdict and scrapped two pleas by the state seeking stricter penalties.
"I would suggest the ACC should take the verdict to the Appellate Division. The ACC has been informed; it's their call," ACC lawyer Khurshid Alam Khan said.
Ershad was the country's longest serving president who ruled until 1990.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
