Tuesday, June 19, 2018 | ePaper

Loan scam at Farmers Bank

ACC quizzes Babul Chisty, 3 others

  • Print
Staff Reporter :
Anti-Corruption Commission (ACC) on Sunday quizzed four people including former chairman of Farmers Bank Audit Committee Mahabubul Haque Chisty (Babul Chisty) over allegations of embezzling Tk 160 crore from the bank.
On April 10, ACC Deputy Director Shamsul Alam filed a money-laundering case with Gulshan Police Station, accusing six persons, including Babul Chisty, his son Rashedul Haque Chisty, the bank's Senior Vice President Zia Uddin Ahmed and First Vice President Muhammad Masudur Rahman Khan.
The four landed in jail the same day after the ACC arrested them in the case.
The accused persons, including son of Babul Chisty and two officials of the bank faced the quizzing at ACC headquarters in Dhaka. ACC Assistant Director (Public Relations) Pranab Kumar Bhattacharya told The New Nation that an ACC team led by Deputy Director Shamsul Alam and investigation officer of the case interrogated them.
"They have been interrogated from morning to afternoon putting remand," he added.   
The ACC found that between November 18, 2013 and January 30 this year, Tk 138.82 crore were deposited with the current accounts of Bakshiganj Jute Spinners Ltd at Farmers Bank's Bakshiganj and Gulshan branches. Chisty's son, wife and daughter owned the mill.
ACC imposed a ban on the travel of 17 people including Babul Chisty and his family members and senior officials of the bank for their alleged involvement in the money laundering case. In December last year, Bangladesh Bank (BB) unearthed that Farmers Bank's Motijheel branch had disbursed more than Tk 500 crore that were sanctioned to 11 companies in violation of normal banking rules and procedures. Of the amount, loans of Tk 367 crore that the branch gave to 10 of the firms from November 2013 to November last year have become defaulted.
According to a BB probe report, Mahabubul was involved in the financial scams that took place in the bank's Gulshan and Mowna branches.
BB held the bank's ex-chairman Muhiuddin Khan Alamgir and Chisty largely responsible for the scams.

More News For this Category

 Flood hits Sylhet, M`bazar areas

Flood hits Sylhet, M`bazar areas

Staff Reporter :Over flooding has gripped Sylhet region drowning people, washing away villages at many places as gushing water has destroyed river embankments on rives. Torrential rains in the region

Sweden beat S Korea 1-0

Sweden beat S Korea 1-0

Sports Desk :Sweden won an opening World Cup game for the first time since 1958 and ended their worrying goal drought with a 1-0 victory over South Korea that was

11 killed in road crashes in 5 dists

At least 11 people, including two siblings, were killed in road accidents in Cox's Bazar, Noakhali, Cumilla, Tangail and Thakurgaon districts on Sunday.In Cox's Bazar, Babu Dey, 16, son of

‘Separating children from parents is cruel’

The former US First Lady Laura Bush has condemned a controversial policy that splits up families who illegally enter the country at the Mexican border.Writing in the Washington Post newspaper,

Nine killed in Nilphamari road crash

UNB, Nilphamari :At least 11 people, including nine picnickers, were killed and 18 others injured in a head-on collision between a bus and a picnic pick-up at Dhalagachhi in Saidpur

Eid holidaymakers start returning to city

Eid holidaymakers start returning to city

Md Joynal Abedin Khan :The holyday makers have started returning to capital Dhaka after celebrating Eid-ul-Fitr with their near and dear ones in different district towns and villages.They enjoyed hassle-free

Lt Gen Aziz new Army Chief

Lt Gen Aziz new Army Chief

The government has appointed Lieutenant General Aziz Ahmed as the new chief of Bangladesh Army.The Ministry of Defence issued a notice in this regard on Monday.He will be promoted as

PCJS activist shot dead in Rangamati

UNB, Rangamati :An activist of Parbatya Chattagram Jana Samhati Samiti (PCJS, MN Larma) was shot to death by miscreants at his residence at Milonpur in Baghaichhari upazila on Sunday evening.The

'Drug trader' killed in Jashore 'gunfight'

UNB, Jashore :A suspected drug trader was killed in a reported gunfight with rivals at Chengutia in Abhaynagar upazila early Monday.The deceased was identified as Shahidul Islam, 38, son of

UN for sustained HR monitoring on ground before Rohingya return

UN High Commissioner for Human Rights Zeid Ra'ad Al Hussein has reiterated that no Rohingya repatriation should take place in the absence of sustained human rights monitoring on the ground,