Ex-BASIC Bank brass Fazlus Sobhan gets bail

The High Court today granted permanent bail to Fazlus Sobhan, former deputy managing director of Basic Bank, in six cases involving loan scam of Tk 4,500 crore.

The bench of Justice M Enayetur Rahim and Justice Shahidul Karim granted him bail following his six separate bail petitions on grounds that the Anti-Corruption Commission (ACC) failed to complete the cases for two and half years.

Read more: BASIC Bank Scam Probe: HC raps ACC

Fazlus Sobhan cannot get released from jail following the HC orders of bail as he is arrested in some other cases, ACC's lawyer Advocate Khurshid Alam Khan told The Daily Star.

He also said, the commission is yet to decide whether it will move appeal before the Supreme Court against the bail order for Fazlus Sobhan.

Earlier yesterday, the High Court expressed utmost dissatisfaction and disappointment with the Anti-Corruption Commission for the long delay in completing investigations in the cases over BASIC Bank loan scams.

The ACC yesterday quizzed former BASIC Bank chairman Sheikh Abdul Hye Bacchu over Tk 4,500-crore loan scams. Though he was chairing the bank during the entire loan scam period, Bacchu does not stand accused in any of the cases filed over the incident.