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BASIC Bank scam: IOs asked to appear before HC on May 30

  • Published at 02:41 pm May 23rd, 2018
  • Last updated at 02:45 pm May 23rd, 2018
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File photo of the Supreme Court Dhaka Tribune

The court asked the IOs to appear before it along with all documents of the cases

The High Court has summoned all the investigating officers (IO) of 56 graft cases filed over the BASIC Bank loan scam to appear before it on May 30.

The High Court bench of Justice M Enayetur Rahim and Justice Shahidul Karim passed the order on Wednesday.

The court asked the IOs, including Anti-Corruption Commission (ACC) Director Syed Iqbal Hossain, to appear before it to explain their position over why they could not finish investigation within the scheduled period.

The court also asked them to appear along with all documents of the cases, ACC lawyer Khurshid Alam said.

He said as per the law, an investigation officer can take a maximum of 180 days to finish his task, but two and a half years had passed without any conclusions to these cases.

In September 2015, the ACC filed 56 cases with three police stations in Dhaka, accusing more than 100 individuals, including 26 bank officials.

Later, the commission filed another five cases in 2017.

On July 14, 2014, the central bank sent a report to the ACC with details of embezzlement, and found the bank’s former chairman Sheikh Abdul Hye Bacchu's illegal influence over all the activities of the bank.

According to an inquiry of Bangladesh Bank, about Tk4,500 crore was swindled out of Basic Bank over the six years of Bachhu’s tenure as its chairman.

He resigned from the Bank on July 4, 2014, as the Finance Ministry sent a letter to Bangladesh Bank to dissolve the then existing committee of the bank on May 29, 2014.