Farmers Bank Scam: ACC to sue Chisty, son, four others

The Anti-Corruption Commission (ACC) has decided to file a case against Mahbubul Haque Chisty, former chairman and audit body chief of now-defunct Farmers Bank, his son and four others for misappropriating about Tk 63 crore.

ACC in its inquiry has found that misusing his power Chisty in collaboration with each other misappropriated the money.

The other accused in the case are -- his son Rashedul Haque Chisty, former executive vice president of the bank Mohammad Jahangir Alam Majumdar, Al-Faruk Bags Limited's managing director Redwanul Kabir Chowdhury, its chairman Chowhdury Al-Faruk and director Nimmi Kabir Chowdhury.

The commission will soon file the case, according to the anti-graft watchdog's Public Relations Officer Pranab Kumar Bhattacharya.

Farmers Bank has been renamed as Padma Bank as the troubled lender looks to sweep the gross irregularities and loan scams under the carpet and get an image makeover.

The bank, which was established in 2013, became a hotbed for financial irregularities in less than three years of operation. More than Tk 3,500 crore was siphoned out from the bank, according to the Bangladesh Bank.

On December 15 last year, the ACC filed five cases with its Integrated District Office-1 of Dhaka against Chisty, his wife, son, daughter and daughter-in-law for amassing over Tk 135.45 crore illegally.

In 2018, Chisty and his son were arrested in a Tk 160 crore laundering case.