The High Court overturned a trial court's verdict that acquitted Tarique Rahman, 48, from money laundering charges.
The court sentenced him to seven years in prison and slapped a Taka 200 million fine.
The bench of justice Enayetur Rahim and Amir Hossain gave its verdict on an appeal by the Anti-Corruption Commission.
The court upheld the seven year sentence of Rahman's business partner, Giasuddin Al Mamun.
In November 2013, a Dhaka court acquitted Tarique, the Zia, over charges brought against him for siphoning off Taka 204.1 million (nearly USD 2.5 million) to Singapore between 2003 and 2007.