Hallmark MD Tanvir Mahmud and his wife Jasmine Islam, the company's chairperson, have been sentenced to life imprisonment by a Dhaka court in connection with one of the 11 cases related to corruption involving loans from Sonali Bank amounting to around Tk4,000 crore.

The verdict was announced by Judge Md Abul Kashem of Dhaka's Special Judge Court 1 on Tuesday.

In addition to Tanvir Mahmud and Jasmine Islam, the individuals currently in jail in connection with the case include Hallmark General Manager Tushar Ahmed, former Sonali Bank Head Office GM Mir Mohidur Rahman, DGM Md Safiuddin Ahmed, DMD Mainul Haque, AGM Md Kamrul Hossain Khan, and Nakshi Knit's Md Abdul Malek.

Among the accused who are currently absconding are Paragon Group MD Saiful Islam Raja, Sonali Bank Head Office GM Nani Gopal Nath, former managing director of Sonali Bank Head Office Humayun Kabir, ADGM Md Saiful Hasan, Executive Officer Abdul Matin, Max Spinning Mills owner Mir Zakaria, T and Brothers' Taslim Hasan, and Sonali Bank Dhanmondi Branch's Senior Executive Officer Meherunnesa Mary.

Md Jamal Uddin Sarkar, the former chairman of Tetuljhora Union Parishad of Hemayetpur in Savar, is currently out on bail.

Following the presentation of arguments on January 28, the court initially scheduled the verdict for February 28. However, the announcement was postponed on that day, and instead, testimonies were gathered. After hearing the witnesses' testimonies, the court set March 12 for the presentation of arguments. Finally, after arguments from both the state and the defendants, the court announced March 19 as the date for the verdict.

The case involves the embezzlement of Tk10.5 crore through a loan of around Tk526 crore in the name of a non-existent entity, Max Spinning Mills.

The Anti-Corruption Commission (ACC) filed the case against the accused on October 4, 2012, in the capital's Ramna police station, accusing them of fraud and embezzlement.

On March 27, 2016, the Metropolitan Sessions Court of Dhaka framed charges against the defendants and ordered the transfer to Dhaka Special Judge Court-1.

In this case, the court accepted the testimonies of 57 out of 81 witnesses mentioned in the charge sheet.