Former BASIC Bank Chairman Sheikh Abdul Hye Bachchu will be questioned over the massive credit fraud at the ACC on Dec 4. 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 alleged to have given loans without collateral and used false documents and fictitious names and organisations in violation of the rules and regulations. After nearly four years of investigation, the ACC started 56 cases at three police stations in Dhaka, accusing 156 individuals. In February 2016, Finance Minister AMA Muhith claimed the investigation into BASIC Bank had found evidence of loan fraud, appointment fraud and promotion manipulation in regards to Bachchu.

Source: bd News24 November 28, 2017 14:03 UTC