Four arrested in connection with Farmers Bank scam on remand

Four arrested in connection with Farmers Bank scam on remand

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Dhaka, April 10 – A Dhaka court on Tuesday placed former chairman of the Farmers Bank’s Audit committee Mahabubul Haque Chisty (Babul Chisty) and his son among four on different terms of remand in a case filed on the charge of embezzlement of Tk 160 crore.Metropolitan Magistrate Golam Nabi of the CMM Court of Dhaka passed the order on Tuesday.
The other convicts who were remanded are Rashedul Haque Chisty, son of Mahabubul Haque Chisty, Masudur Rahman Khan, first president of Farmers Bank and Zia Uddin Ahmed, senior vice president of the bank.
Of the accused, Mahabubul Haque Chisty was placed on a five-day remand while the other three on a four-day each.
Earlier, deputy director of the Anti-Corruption Commission (ACC) Shamsul Alam produced them before the court seeking a 10-day remand for each.
The other accused of the case were known as Rosy Chisty, wife of Mahabubul Haque Chisty, and Delowar Hossain, incumbent senior executive vice president of the bank, who was a former manager of Gulshan Corporate Branch. – Special Correspondent
Our Staff Reporter adds: The Anti- Corruption Commission (ACC) Tuesday arrested the Farmers Bank’s former Audit Committee Chairman Mahabubul Haque Chisty and three others on charge of swindling of Tk 160 crore.
The three others are: chairman’s son Rashedul Haque Chisty, the Bank’s Senior Vice President Zia Uddin Ahmed and First Vice President Masudur Rahman Khan.
A team of the commission led by its Director Kazi Shafiqul Alam arrested them in front of the National Board of Revenue (NBR) yesterday afternoon.
After the arrest, Mahbubul Haque Chisty said, “The investigation is going on. Let’s see what happens.”
In response to a question he said, “A man cannot operate a bank alone.”
Later talking to the reporters, ACC chairman Iqbal Mahmood said that they have arrested the four accused as part of the commission proceedings.
“If anyone involve in corruption, the commission will arrest them. No one will be spare those who were involved in corruption,” he warned.
“We want to close the Anti-Corruption Commission. There is no need for the commission, if anyone would not involve in committing corruption. But, if anyone will involve in taking bribe and corruption, the commission would not spare them,” he noted.
More than 160 crore were swindled from the Farmers Bank account. So, the commission has arrested them and investigation is going on. After completing investigation, the next course of action would be taken against them in accordance with the law, the ACC chief said.
Earlier in the morning, Samsul Alam, deputy director of the ACC filed a case against the six persons, including the four detainees, with the Gulshan Police Station for their alleged involvement in the embezzlement of Tk 160 crore.
Among the six accused four were held yesterday while the other two other accused are Chisty’s wife Ruji Chisty and the bank’s senior executive vice president and incumbent senior executive vice president of the bank (former manager of Gulshan Corporate Branch) Delowar Hossain.
According to the case statement, the accused persons opened 25 accounts in several branches of the bank and committed irregularities with the co-operations of mangers of the bank violating the rules and regulations of the bank.
The statement also alleged that Chisty was involved in swindling of Tk 160 crore from the bank. He was allegedly involved in connection with the embezzlement and irregularities in loan disbursement, according to the case statement.
Earlier, ACC imposed a travel ban on 17 people including several current and former top officials of the Farmers Bank Limited.
The top Farmers Bank officials facing the ban include the Bank’s former Audit Committee chairman Mahabubul Haque Chisty, his wife Ruzi Chisty, son Rashedul Haque Chisty, Rashed’s wife Farhana Ahmed, daughter Rimi Chisty, Mazedul Haque Chisty, the bank’s former Managing Director and CEO AKM Shameem, Deputy MD Abdul Motaleb Patwari, Senior Executive Vice-President Gazi Salauddin, Executive VP Mohammad Jahangir Alam Majumdar, and SVP Zia Uddin Ahmed.
The other officials are Lutful Haque and Md Monirul Haque, Md Tafazzal Hossain, Mohammad Shamsul Hassan Bhuiyan, Mahbub Ahmed, and Md Zakir Hossain.
The Farmers Bank was established in June 2013 while investigations of Bangladesh Bank found massive irregularities in the bank’s loan disbursement along with a huge amount of default loans in 2017.
The cash-strapped Farmers Bank is struggling four years into its launch due to the loan scam. The bank’s chairman and a former home minister MK Alamgir and Audit Committee chief Mahabubul resigned following the scandal while the central bank in December last year also removed the bank’s managing director. – Staff Reporter

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