Basic Bank scam: ACC to face legal action if no probe report in 3 months

The High Court today directed the Anti-Corruption Commission (ACC) to complete the investigation into the Basic Bank loan scam cases and submit the report to the lower court concerned in three months "without fail".
If the ACC does not submit the investigation report in three months after receiving the verdict and order, appropriate legal action would be taken against the commission, the HC bench of Justice Md Nazrul Islam Talukder and Justice Khizir Hayat Lizu said in the verdict.
The HC bench delivered the verdict after a hearing on three rules that asked the ACC and state to explain why Mohammad Ali, former manager of Basic Bank's Shantinagar branch, should not be granted bail in three corruption cases filed by the ACC. The HC, however, denied his bail.
The court said there is no scope for taking the allegation of money laundering leniently.
Details of the HC verdict could not be known as its written version hasnot been released yet.
Senior lawyer Khurshid Alam Khan appeared for the ACC while Deputy Attorney General AKM Amin Uddin Manik represented the state, and SM Abul Hossain argued for accused petitioner Mohammad Ali.
Yesterday, the HC bench expressed utter dismay at the incidents of embezzlement of huge amount of money from Basic Bank and the ACC's failure to submit charge sheet of any of the 56 cases filed over the bank's loan scams in the last seven years.
The HC issued three rules on different dates in 2020 and 2021.
According to a Bangladesh Bank enquiry, around Tk 4,500 crore was siphoned out of state-owned Basic Bank between 2009 and 2013 when Sheikh Abdul Hye Bacchu chaired the board of the bank.