Probe BASIC Bank ex-MD Fakhrul, DMD Sobhan’s properties: HC asks ACC

The High Court today ordered the Anti-Corruption Commission to conduct an investigation into the properties of BASIC Bank General Manager Kazi Fakhrul Islam and the Deputy Director General of the time , Fazlus Sobhan.

The court of Judge M Enayetur Rahim and Judge Shahidul Karim presented the order in suomoto (voluntary) at the hearing of the petitions filed by Fazlus Sobhan with a view to obtaining a settlement. bail in four corruption cases.

The HC ordered the ACC to investigate the properties of Kazi Fakhrul Islam and Fazlus Sobhan, as they held two vital positions of the BASIC bank during his huge loan scam, l 39; lawyer Syed Mamun Mahbub, an attorney at ACC, told Daily Star.

The bench, however, granted bail to FazlusSobhan in four cases.

FazlusSobhan can not be released from prison following HC's bail orders, as he is arrested in a number of other cases, said lawyer Mamun Mahbub, adding that KaziFakrul Islam is now at the helm. ;foreign.

Lawyer Rokanuddin Mahmud appeared for FazlusSobhan.

According to a survey by the Bank of Bangladesh, about 4,500 crores of Tk were diverted from BASIC Bank between 2009 and 2013 when Sheikh Abdul Hye Bacchu presided over the bank's board of directors.

In May 2014, the central bank reportedly fired KaziFakhrul Islam, chief executive officer of BASIC Bank, for presiding over a period of serious irregularities at the public bank.

The Bangladesh Bank found that he was guilty of seven counts, including the lack of sound management, the failure to protect the interests of depositors and loan irregularities. .

According to central bank surveys, BASIC Bank provided loans without client credit checks and appropriate documentation. The lender also granted loans to defaulting parties.

Most of the irregularities were in the Dilkusha, Shantinagar and Gulshan branches of the bank.

In July of last year, the HC ordered the ACC to investigate the alleged involvement of former BASIC chairman, Sheikh Abdul Hye Bacchu, and his colleagues. members on the board of directors of a loan deal of 40 crores.

Meanwhiletoday, the same HC bench granted a bail to three other sacked BASIC Bank officials in several loan scam cases filed by ACC.

Former general manager of BASIC Bank's internal credit division Md Selim got a bail in one case, former bank general manager Zainul Abedin Chowdhury got a bail in one case and director of his Gulshan Shipar branch Ahmed secured bail in two cases, ACC attorney Khurshid Alam Khan told this newspaper

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