Muhammad Yunus, the Nobel laureate and father of microfinance, has been ordered by Bangladesh’s highest court to pay over $1 million in taxes on a $7 million donation he made to three charity trusts between 2011 and 2014.
The Appellate Division bench, presided over by Chief Justice Siddique, reviewed Dr. Yunus’ appeal of a High Court decision and issued a directive for him to pay the government Taka 12 core tax.
Through his microcredit bank, Yunus is credited with helping millions of people escape poverty. He was awarded the 2006 Nobel Peace Prize for advancing economic development in his nation.
The anti-graft body in Bangladesh opened an investigation into companies led by Yunus last year. The prime minister of Bangladesh, Sheikh Hasina, also charged him with “sucking blood from the poor” and held him accountable for the World Bank pulling out of a bridge project due to charges of corruption.