Basic Bank

BASIC Bank scam: ACC to file plea challenging ex-DMD's bail

The Anti-Corruption Commission (ACC) will file six appeals with the Supreme Court challenging the High Court verdict that granted bail to Fazlus Sobhan, former deputy managing director of BASIC Bank, in six loan-scam cases.
19 June 2018

BASIC 'plunderers' go happy

In the four years between 2009 and 2013, Tk 4,500 crore was swindled out of BASIC, once a healthy public bank. But what followed was more shocking than the country's biggest loan scam itself.
3 June 2018

Ex-BASIC Bank brass Fazlus Sobhan gets bail

The High Court grants permanent bail to Fazlus Sobhan, former deputy managing director of Basic Bank, in six cases involving loan scam of Tk 4,500 crore.
31 May 2018

BASIC Bank: JP MP, husband sued over Tk 275cr scam

Jatiya Party lawmaker Mahjabeen Morshed and her husband have been sued for Tk 275-crore loan scam at the state-run BASIC Bank.
10 January 2018

JP MP sued for misappropriating Tk 275cr loan of Basic Bank

Anti-Corruption Commission (ACC) sues Jatiya Party lawmaker Mahjabeen Morshed, her husband and five others for allegedly misappropriating around Tk 275crore of Basic Bank.
10 January 2018

BASIC Bank Loan Scam: Transfer of Tk 20cr raises questions

Around Tk 20 crore was transferred to bank accounts of two firms, owned by Sheikh Abdul Hye Bacchu's younger brother, from several companies that got loans from BASIC Bank through scams when Bacchu was its chairman.
5 December 2017

ACC quizzes ex-BASIC Bank chairman Bacchu over scam cases

Former BASIC Bank chairman Sheikh Abdul Hye Bacchu has been interrogated by the Anti-Corruption Commission (ACC) in scam cases.
4 December 2017

HC on Basic Bank Scam: ACC lacks neutrality in probe

The High Court yesterday severely rebuked the Anti-Corruption Commission for foot dragging and showing weaknesses in investigating cases over the BASIC Bank loan scam. The commission lacks neutrality, transparency and competence in dealing with the cases, the court said, adding that the ACC is applying the “pick and choose” policy as "it keeps detaining and releasing people in connection with the cases".
8 November 2017

Basic Bank scam: HC rebukes ACC

The High Court rebukes the Anti-Corruption Commission (ACC) for dillydallying and weakness of its investigation into the cases filed for Basic Bank loan scam.
8 November 2017

BASIC Bank Loan Scam: 50 ghost firms traced

BASIC Bank has finally been able to trace 50 firms which took loans from the bank showing fake documents with the help of its former chairman Abdul Hye Bachchu.
18 September 2017

SC dissatisfied at ACC as BASIC Bank ex-chairman not implicated in cases

The Supreme Court expresses discontent at the Anti Corruption Commission as it did not implicated the then chairman of BASIC Bank Sheikh Abdul Hye Bacchu and its former board members in two loan scam cases involving Tk 75 crore.
17 August 2017

Loan scam: BASIC Bank GM held

The Anti-Corruption Commission arrests a top official of state-owned BASIC Bank in connection with a loan scam.
5 April 2016

Loan scam: BASIC Bank official among 4 held

ACC arrests four people including an official of the BASIC Bank in Dhaka in connection with swindling of huge amount of money from the bank.
28 March 2016

Submit BASIC Bank scam probe reports

The High Court yesterday directed the Anti-Corruption Commission and Bangladesh Bank to submit their probe reports on BASIC Bank loan scam.
9 February 2016

HC asks for probe reports on BASIC Bank loan scam

The High Court directs the Anti-Corruption Commission and Bangladesh Bank to submit probe reports on BASIC Bank loan scam.
9 February 2016

1.14 lakh bank accounts with Tk 1cr each in 2015

There were 1.14 lakh bank accounts having over Tk 1 crore each in the all of the country’s commercial banks in 2015, says finance minister AMA Muhith.
25 January 2016

Why not implicate Bacchu?

The Basic Bank money scam is one of the biggest examples of corruption in the country. Under Mr. Abdul Hye Bacchu's chairmanship...
23 November 2015

Why BASIC Bank’s Bacchu not implicated: HC

High Court issues a rule asking why BASIC Bank’s former chairman Sheikh Abdul Hye Bacchu will not be implicated in cases filed over loan scam worth Tk 154 crore.
17 November 2015

BASIC Bank scam: ACC files 23 more cases

The Anti-Corruption Commission (ACC) is going to file 23 more cases in connection with the Tk 5,000-crore BASIC Bank scam between 2010 and 2013.
22 September 2015

BASIC Bank scam: ACC files 18 cases

Anti-Corruption Commission files a total of 18 cases with three police stations in Dhaka in connection with alleged irregularities and corruption at BASIC Bank.
21 September 2015