• Friday, July 25, 2014

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Anti-Corruption Commission

Sohel Rana denied bail in graft case

Sohel Rana denied bail in graft case

The High Court today rejected a bail petition of Sohel Rana in a corruption case filed for violating building code in constructing Rana Plaza, which collapsed on April 24 last year killing at least 1,135 people. The Anti-Corruption Commission on June 15 filed the case with Savar Police Station, saying Rana in league with other accused had built Rana Plaza violating the Bangladesh National Building Code. The case was also lodged against Savar municipal mayor, Rana's parents and 14 others. The HC bench of Justice Md Nizamul Haque and Justice Md...

MONEY LAUNDERING CASE

SC stays Khandaker Mosharraf’s HC bail

SC stays Khandaker Mosharraf’s HC bail

The Supreme Court today stayed until September 2 a High Court order that had granted bail to BNP leader Khandaker Mosharraf Hossain in a money laundering case. A five-member bench of the Appellate Division of the SC headed by Chief Justice Md Muzammel Hossain passed the stay order after hearing two separate petitions filed...

Swindled by bankers

Swindled by bankers

Eleven officials of Prime Bank swindled Tk 92.65 crore out of depositors, creating fake loan recipients, in yet another blow for the country's under-pressure banking sector.    The scam surfaced as the Anti-Corruption Commission yesterday approved a charge sheet against the now suspended 11 officials, including its vice-president HM Zakir Hossain, and 19 traders...

Ex-chairman in thick of things

Ex-chairman in thick of things

Former BASIC Bank chairman Abdul Hye Bacchu illegally influenced all activities of the state-owned lender, leaving the once-sound bank in a rickety state, revealed a report of Bangladesh Bank. The central bank report, which also contains the findings of the observer deployed at the bank for stopping gross irregularities, outlined how the government-backed chairman abused his power to play an active role behind the loan scam. As to whether BASIC directors were unlawfully involved in any administrative activities, loan sanction, write-off, interest waiver and rescheduling, the observer stated that the chairman "actively influenced every matter presented to the board". In November 2013, the central bank felt it necessary to appoint the observer...

BASIC Bank: Blatantly looted

BASIC Bank: Blatantly looted

The central bank has sent a report on the financial scam at BASIC Bank to the Anti-Corruption Commission, detailing how borrowers embezzled money from the state lender through fake companies and suspected accounts. Bangladesh Bank sent the report to the anti-graft body on Tuesday, after concluding a special inspection into the scam in the first week of this month. The central bank first inspected BASIC Bank's Gulshan, Shantinagar and Dilkusha branches in 2012 and found evidence of serious anomalies in approving loans. Dilkusha branch, for example, doled out Tk 683 crore in loans to 16 borrowers, all of whom took the money through illegal means. One borrower, Asif Iqbal, proprietor of Reliance Shipping...

BASIC Bank Anomalies

Board meeting minutes fake!

Some 106 agenda involving Tk 1,354 crore loan were included in the minutes, but were not at all discussed at the 327th board meeting of BASIC Bank in December last year. A total of 308 agenda were listed for the meeting, but the number shot up to 414 in the meeting minutes, as found by the Bangladesh Bank-appointed observer in the scam-hit public bank. His remarks on promoting two bankers to the post of deputy managing directors were grossly distorted in...

Rana Plaza Collapse

Rana finally charged in ACC case

Finally the name of Sohel Rana, who was excluded in the case filed by the Anti-Corruption Commission on the construction of Rana Plaza in violation of the building code, has been included in the charge sheet. The ACC yesterday approved the charge sheet in the case filed on June 15 with Savar Police Station, saying the accused in league with each other had built Rana Plaza violating the Bangladesh National Building Code. The building collapsed last year, killing at least...

Finally, Rana on ACC charge sheet

Finally, Rana on ACC charge sheet

The Anti-Corruption Commission (ACC) has finally included Sohel Rana in the charge sheet of the case filed for erecting Rana Plaza violating building code. The ACC today approved the charge sheet of the case field on June 15 with Savar police station bringing allegation that the accused in league with each other had built Rana Plaza violating Bangladesh National Building Code that collapsed last year killing at least 1,135 people. Rana was not included in the case which was filed against Savar municipal mayor, Rana's parents and 14 others. "During investigation, several of the accused stated that Rana had exercised influence for constructing the faulty building and setting up garment factories illegally...

BASIC Bank Probe

BB looks to ACC action

The central bank is relying on the Anti-Corruption Commission to sue Sheikh Abdul Hye Bacchu, chairman of the recently dissolved BASIC Bank board, for huge financial irregularities in the state-run bank.   “The last time the ACC took reports on BASIC Bank was in the middle of last year. We now have more detailed reports, which we are willing to give to the commission for further investigation,” SM Moniruzzaman, executive director of Bangladesh Bank, told a press briefing yesterday. “An in-depth...

Niko Graft Case

Canada wants to quiz Morshed, Mahmudur

Canada wants to quiz Morshed, Mahmudur

Canada has requested the Anti-Corruption Commission to help it interrogate former foreign minister M Morshed Khan and ex-energy adviser Mahmudur Rahman over allegations of graft in awarding an energy deal to Canadian oil company Niko. Royal Canadian Mounted Police (RCMP) made the request as part of their investigation into the allegations against former Canadian...

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