BASIC Bank loan fraud: ACC quizzes two former directors

The Anti-Corruption Commission or ACC has questioned two former directors of BASIC Bank over the embezzlement of Tk 35 billion in loans.

Anwarul Islam and Anis Ahmed were grilled for one and a half hours from 10:30am on Sunday as part of the latest interrogation by the ACC that started on Nov 22.

A team led by ACC Director Zayed Hossain Khan questioned them at the ACC headquarters, said ACC spokesman Pranab Kumar Bhattacharya.

The graft watchdog has grilled 10 former directors of the bank so far over the massive credit fraud.

The other eight are Kamrun Nahar Ahmed, Kazi Akter Hossain, Sakhawat Hossain, Fakhrul Islam, AKM Kamrul Islam, Jahangir Akhand Selim, Shyam Sundar Sikder and AKM Rezaur Rahman.

Former BASIC Bank Chairman Sheikh Abdul Hye Bachchu would be questioned in this connection at 10am Monday, Pranab said.

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

BASIC Bank is accused of disbursing loans without collateral and using false documents and fictitious names and organisations in violation of the rules and regulations.

After about four years of investigation, the ACC started 56 cases at three police stations in Dhaka, accusing 156 individuals. Twenty-six among them are bank staffers. The rest are connected to lending institutions and banking oversight organisations.

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

The ACC claimed they had not found any evidence of Bachchu’s involvement.

The parliamentary standing committee on the finance ministry was unhappy with the ACC findings and the central bank opened a separate investigation into the matter.

In February 2016, Finance Minister AMA Muhith claimed the investigation into BASIC Bank had found evidence of Bachchu’s roles in frauds tied to loans, appointment and promotion.

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

The court warned the ACC not to ‘pick and choose’.

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 chairman of the bank in 2009. His job was extended in 2012.

Bachchu resigned in 2014 amid pressure following the emerging fraud allegations.

The finance minister said Bachchu would not be let off the hook.