Bank Chairman

ACC summons former BASIC Bank Chairman

MNA Business Desk: The Anti-Corruption Commission (ACC) has summoned former BASIC Bank Chairman Sheikh Abdul Hye Bachchu for questioning over a massive loan fraud.

Bachchu and a few others have been instructed to appear at the ACC on Dec 4, said ACC Deputy Commissioner (Media) Pranab Kumer Bhattacharya.

The ACC opened an investigation into the state-run BASIC Bank after allegations that Tk 35 billion in loans had been illegally distributed from the Gulshan, Dilkusha and Shantinagar branches between 2009 and 2011.

After nearly four years of investigation, the ACC filed 56 cases at three police stations in Dhaka, accusing 156 individuals. Twenty-six are bank officials.

But the absence of Bachchu and other prominent members of the board of directors on the list of suspects prompted controversy.

In August, the Supreme Court’s Appellate Division expressed its anger that Bachchu and the board of directors had not been named suspects in loan frauds and money laundering.

Facing criticism, an ACC director told the media that Bachchu would be called in for questioning, even though he was not on the list of suspects.

Bachchu, a former Jatiya Party MP, was appointed the chairman of the bank in 2009. His appointment was renewed in 2012.


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