BASIC Bank loan scam: HC orders ACC to submit charge sheets in 21 cases

The High Court today directed the Anti-Corruption Commission (ACC) to submit charge sheets to the trial courts in two and half months in connection with 21 corruption cases filed against Iqbal Hossain Bhuiyan, managing partner of SD Survey Firm, and several others for their involvement with the BASIC Bank loan scam.

The trial court will consider granting bail to Iqbal Hossain in the 21 cases if the ACC fails to submit the charge sheets in two and half months, the HC said in a verdict.

The HC bench of Justice Md Nazrul Islam Talukder and Justice Mohi Uddin Shamim came up with the verdict after disposing of 20 separate rules over Iqbal's bail in the cases.

The ACC has been directed to complete investigations and to submit the charge sheets in the fixed time which will be counted from the date of receiving the HC's judgement copy, Deputy Attorney General AKM Amin Uddin Manik told The Daily Star.

He said the ACC filed a total of 21 corruption cases against Iqbal Hossain, several bankers and businessmen in 2015 on charges of embezzling around Tk 700 crore by over-evaluating the value of mortgage of properties of loan receivers.

Iqbal Hossain, who has been sent to jail on surrender to trial court on July 12, 2019, has secured bail in one of the 21 cases earlier from the HC.

The HC has also issued separate rules asking the state and ACC to explain why Iqbal should not be granted bail in remaining 20 cases, DAG Manik said.

According to a Bangladesh Bank enquiry, in the four years between 2009 and 2013, Tk 4,500 crore was swindled out of the bank.