Rubel Rana

2018-07-26 12:04:28 BdST

Farmers Bank loan scam: Babul denied bail


The High Court on Thursday rejected the bail petition of Farmers Bank’s former Audit Committee chairman Mahabubul Haque Chisty, also known as Babul Chisty, in a case over embezzlement of Tk 160 crore and irregularities in loan disbursement.

An HC-bench of Justice Obaidul Hasan and Justice S M Kuddus Jaman passed the order rejecting his bail petition.

Barrister Moudud Ahmed and barrister Abdullah AH Mahmud stood for Chisty while advocate Khurshid Alam Khan for the Anti-Corruption Commission.

Earlier on June 6, the High Court issued a rule asking the government to explain in three weeks why Chisty should not be granted bail in the case.

Earlier on May 29, a Dhaka court rejected the bail plea of Babul. Later, he filed a petition with the High Court against it.

The Anti- Corruption Commission (ACC) arrested four people, including Farmers Bank’s former Audit Committee chairman Mahabubul Haque Chisty, in the case on April 10.

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 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.

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