Basic Bank loan scams: HC summons IOs to explain delay in inquiry
01:55 PM, May 23, 2018 / LAST MODIFIED: 02:18 PM, May 23, 2018

Basic Bank loan scams: HC summons IOs to explain delay in probe

The High Court today summoned all the investigation officers of 56 cases filed in connection with Basic Bank loan scam, seeking their explanation over the delay in completing the investigation.

They will have to appear before the court on Wednesday, next week, along with all the relevant documents of the cases.

The High Court bench of Justice M Enayetur Rahim and Justice Shahidul Karim passed the order while hearing four petitions filed by few accused including Fazlur Sobhan, the then managing director of Basic Bank, seeking bail in the cases.

“The Anti-Corruption commission has filed 56 cases in connection with the Basic Bank loan scam,” Anti-Corruption commission’s lawyer Advocate Khurshid Alam Khan told The Daily Star.

During the proceedings, the court found that the investigations of the cases were not finished in due time, the ACC lawyers said.

According to a Bangladesh Bank enquiry, about Tk 4,500 crore was siphoned out of the state-run bank between 2010 and 2013 when Sheikh Abdul Hye Bacchu chaired its board.

On July 14, 2014, the central bank sent a report on the scam to the ACC, detailing how people embezzled money from the bank through shell companies and dubious accounts.

The BB found that Bacchu illegally influenced all the activities of the bank, leaving the once-sound institution in a grave state.

In 2015, the ACC had filed the 56 cases over the scam. However, Bacchu was not made accused in any of the cases.

Stay updated on the go with The Daily Star Android & iOS News App. Click here to download it for your device.

Grameenphone and Robi:
Type START <space> BR and send SMS it to 2222

Banglalink:
Type START <space> BR and send SMS it to 2225

Leave your comments

Top News

Top News

Top