Friday, 29 May, 2020, 1:12 AM
Home Front Page

BASIC Bank Loan Scam

ACC secy gives Bacchu a clean chit

Published : Wednesday, 16 October, 2019 at 12:00 AM  Count : 813

No evidence has been found against former BASIC Bank chairman Sheikh Abdul Hye Bacchu of his involvement in the bank's much-talk-about lone scam, said Anti-Corruption Secretary Mohammad Delwar Bakth.
"The Commission didn't find any specific evidence of Bacchu's involvement in the scam," he said while talking to journalists at his office at Shegunbagicha in the capital on Tuesday.
The comments of the Secretary of the anti-watchdog body came after voice rose against Bacchu and his involvement in the scam and questioned the ACC's responsibility regarding the issue by a Member of Parliament (MP) recently.

Earlier on October 13, Sheikh Fazle Noor Taposh, Member of Parliament of ruling party Awami League and also senior lawyer of the Supreme Court, demanded resignation of the ACC Chairmen Iqbal Mahmud.
Talking to journalists Taposh, MP, said, "If he has failed he should resign."

The ACC Secretary said, "We don't want to submit any half-done charge sheet, as no specific allegation was found against Bachchu." He added that since the allegations against Bachchu were not proven, the Commission didn't prepare a charge sheet yet.
In 2009, the government appointed Hye as chairman and Kazi Fakhrul Islam as the managing director of the state-owned specialised bank.
Scandal hit the bank hard when a Bangladesh Bank report revealed that about Tk 45,000 crore was swindled out of the bank through loan frauds during Bacchu's four-year tenure.
The central bank served a show cause notice to BASIC's top official Kazi Fakhrul in March of 2014 and issued a letter to the Finance Ministry to dissolve Basic Bank's board of directors in April the same year.  Bacchu resigned from his post soon afterwards.
In July of the same year, the Bangladesh Bank forwarded a detailed report to the ACC, where it said Bachchu's involvement was found.
BASIC Bank is accused of giving loans without collateral and using false documents and fictitious names and organisations in violation of the rules and regulations.
The ACC opened investigations into the state-run bank after allegations surfaced that billions of taka in loans were illegally released from the Gulshan, Dilkusha and Shantinagar branches between 2009 and 2012, when Bachchu was heading the bank.
The ACC has prosecuted 26 officers of the bank and 130 others in 56 cases in September 2015 on charges of helping several businesses secure the loans through forgery.
Neither Bachchu nor any member of the bank's board of directors was named in the cases.  

« PreviousNext »

Latest News
Most Read News
Editor : Iqbal Sobhan Chowdhury
Published by the Editor on behalf of the Observer Ltd. from Globe Printers, 24/A, New Eskaton Road, Ramna, Dhaka.
Editorial, News and Commercial Offices : Aziz Bhaban (2nd floor), 93, Motijheel C/A, Dhaka-1000. Phone :9586651-58. Online: 9513959, 01552319639, Advertisement: 9513663
E-mail: [email protected], [email protected], [email protected], [email protected],   [ABOUT US]     [CONTACT US]   [AD RATE]   Developed & Maintenance by i2soft