A Dhaka court on Monday ordered further investigation into 17 cases filed over BASIC Bank loan scams as the key players involved with the loan-sanctioning process were not included as the accused.
Judge Abul Kashem of Special Judge's Court-01 in Dhaka passed the order after hearing the charge sheets submitted in the cases.
He said the order for further investigation would be effective for 43 other loan scam cases relating to BASIC Bank pending with the court for their disposal.
Lawyer Md Shofiqul Islam, who represented an accused, told the FE that none of the former directors, risk management committee, audit committee and IT wing was made accused, although they have a hand in sanctioning the loans.
On the contrary, he claimed, some members of the credit committee were made accused in the cases even if they recommended not issuing the loans.
Mr Islam, who attended the court on behalf of former deputy managing director (DMD) Mohammad Selim, said the Anti-Corruption Commission (ACC) followed the "pick and choose" policy while preparing charge sheets.
Upon hearing the parties, the court ordered the anti-graft watchdog to further investigate the cases.
ACC deputy director Mohammad Ibrahim, who pressed charges against former BASIC Bank chairman Abdul Hye Bachchu and 46 others in 17 cases, explained why he did not include names of board of directors of the bank.
On 12 June 2023, the ACC submitted the charge sheets to the court against Bachchu and 146 others in 60 cases filed for embezzling Tk 22.65 billion.
Of the accused, 101 are customers and 46 bank officials. But no board member and other key players were named as accused, except Bachchu, although multiple investigations indicated their involvement.
The ACC investigators were hesitant to even include the name of Bachchu as he was linked to the high-ups of the then ruling Awami League. Finally, they submitted charge sheets in June 2023.
However, after the political changeover on 05 August 2024, new discussions have begun over the charge sheets submitted in the courts.
The special court, which is holding trial of the cases, have already summoned five investigation officers, seeking explanations as to whether the bank's board of directors other key players had been involved.
The loan is sanctioned only after the green light coming from the majority of the directors.
However, in the cases of BASIC Bank, the ACC charge sheets gave a safe exit to all board members but Bachchu.
According to a Bangladesh Bank report, around Tk 45 billion was embezzled from BASIC Bank during the 2009-2013 period. It was sent to the ACC in 2013.
After enquiry, the ACC filed 56 cases against 120 people at Motijheel, Paltan and Gulshan police stations on 21-23 September 2015.
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