FARMERS BANK SCAM

ACC okays charge sheet against ex-audit chief, 4 others

Staff Correspondent | Published: 00:03, Apr 09,2019 | Updated: 00:10, Apr 09,2019

 
 

The Anti-Corruption Commission on Monday approved a charge sheet against five people, including former Farmers Bank audit committee chairman Mahabubul Haque Chisty, his wife Ruzi Chisty and their son Rashedul Haque Chisty, in connection with the embezzlement of Tk 160 crore.
The two other accused are — the Bank’s suspended senior vice-president Zia Uddin Ahmed and first vice-president Muhammad Masudur Rahman Khan.
The commission deputy director Samsul Islam would submit the charge sheet to the respective court soon said ACC public relations officer Pranab Kumar Bhattacharjee.
Bangladesh Bank in January renamed the Farmers Bank Limited as Padma Bank Limited following a plea by the authorities of the scam-hit private bank.
The fourth generation bank initiated the move of changing its name with a view to regaining public confidence for survival following loan scams and changes in its management and board of directors.
The new management, which took charge of the Farmers Bank after the forced resignation of its previous board chairman Muhiuddin Khan Alamgir and removal of managing director AKM Shamim, initiated the move, bank officials said earlier.
In February last year, the then Farmers Bank that was awarded the licence in 2013 allegedly on political consideration, sought bailout fund to overcome severe liquidity crunch stemmed from aggressive banking, loan irregularities, gross mismanagement and undue interference by the previous board of directors.
The bank has been failing to repay its depositors money, forcing the government’s five institutions — four banks and one investment bank — to inject Tk 815 crore to improve the liquidity situation of the bank.

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