Nobel prize winner Muhammad Yunus has been fined after pleading guilty and apologising for violating Bangladesh labour laws (Bennett Raglin)

Dhaka (AFP) – Bangladesh  Nobel laureate Muhammad Yunus has been fined $88 after pleading guilty and apologising for violating the country’s labour laws, court officials said Wednesday.

The 2006 Nobel Peace Prize winner, whose pioneering micro-lender has been hailed for cutting poverty across the globe, admitted a social business firm he set up had broken labour laws, officials said.

“Yunus and three other senior officials of Grameen Communications formally apologised to the labour court for the violations. They were acquitted, but each paid a fine of 7,500 taka ($88),” a court official told AFP.   

“The defendants have admitted guilt of committing the crime and prayed for relief from the liability of the case along with apologies,” court documents said.

“The defendants…  are now relieved of the charges and the case is now considered resolved.”

Yunus has faced mounting legal problems in recent years, but last month’s trial was the first time the 79-year-old economist turned globe-trotting celebrity speaker had pleaded guilty.

In 2011 he was sacked as head of Grameen Bank in a move his supporters said was orchestrated by Bangladesh Prime Minister Sheikh Hasina, who accused him of “sucking blood” from the poor with high interest rates.

He founded Grameen Bank in the 1980s and shared the Nobel prize with the micro-lender.

Disclaimer: Validity of the above story is for 7 Days from original date of publishing. Source: AFP.