Investigators sitting on information about Dubai real estate purchase despite HC order

ACC empowering its secretaries to transfer and promote investigation officers is illogical

Former BASIC Bank chairman Sheikh Abdul Hye Bacchu has been delaying an ongoing enquiry into allegations that he was involved in loan scams amounting to Tk 4,500 crore between 2010 and 2013, Anti-Corruption Commission officials say.

The High Court directs the Anti-Corruption Commission to conduct inquiry into the properties of the then managing director of BASIC Bank Kazi Fakhrul Islam and the then deputy managing director Fazlus Sobhan.

A Dhaka court sends three officials of Basic Bank Limited to jail after their arrest from the city in connection with swindling money from the state-run bank.

The investigation into the Basic Bank fraud is the latest example of that twist of irony. A former managing director, other officials and a host of borrowers of the bank have been indicted.