Finance minister: Basic Bank former chairman involved in loan scam

The Finance Ministry investigation report has found that former chairman of Basic Bank Sheikh Abdul Hye Bacchu was involved in a loan scam involving Tk2, 200 crore, said Finance Minister Abul Maal Abdul Muhith. The minister made the statement during the Dudok Media Award 2017 organised by Anti Corruption Commission (ACC) at Shilpakala Academy in Dhaka on Wednesday. “ACC is now investigating the matter,” Muhith added. According to the sources, ACC will interrogate the former bank official Sheikh Abdul in connection with the state-run bank’s loan scam. In financial scams that took place between 2011 and 2013, three of the state-run bank — Sonali Bank, Janata Bank and BASIC Bank — had lost Tk12,000 crore. In September 2015, the ACC filed 54 cases against 56 people, including bank officials.