BASIC Bank scam: Iqbal Hossain Bhuiyan denied bail

The High Court today refused to grant bail to Iqbal Hossain Bhuiyan, a business partner of SD Survey, in five separate cases filed in connection with the Basic Bank loan scam.

The, court, however issued five separate rules asking the Anti-Corruption Commission and government to explain in four weeks why Iqbal Hossain Bhuiyan should not be granted bail in the cases.

The HC bench of Justice Md Nazrul Islam Talukder and Justice Ahmed Sohel came up with the ruling after virtually hearing five separate bail petitions filed by Iqbal Hossain Bhuiyan in connection with the cases filed with Paltan Police Station in September 2015.

ACC lawyer Khurshid Alam Khan told The Daily Star that Iqbal Hossain Bhuiyan cannot get released from jail following the HC orders.

Deputy Attorney General AKM Amin Uddin Manik represented the state while Advocate Momtaz Parvin appeared for Iqbal during the hearing yesterday.

According to a Bangladesh Bank enquiry, in the four years between 2009 and 2013, Tk 4,500 crore was swindled out of Basic Bank, once a healthy public bank.