Banditry involving many banks unveiled
Powerful syndicates suck them dry
Massive shady transactions of money have been done in the country's banking sector with forged and fake documents in the last three years and a half, insiders said.Powerful syndicates are allegedly engaged in swindling and siphoning off huge sums of money, and the banks concerned are helping each other in committing the crime, the sources said in the wake of detection of the biggest incident of banditry ever in the country—that in a state-owned bank.
It is learnt from the sources that an amount of Tk 10,000 crore has been swindled from different state-owned and private banks so far.Although six organizations, including Hallmark Group, have taken away Tk 4,000 crore from Sonali Bank, all the loan-recipients, excepting Hallmark, are yet to be traced.
Sources said fake deeds and documents of land property as collateral, letter of credit (LC) and bank drafts are used as instruments in bungling out the public money from banks.So-called owners of signboard-only companies have already defalcated fabulous amounts of money from various banks "with the connivance of influential persons close to the ruling quarters", the sources said.
The defalcation Tk 10,000 crore has affected negatively the banking sector and country's overall economic structure.Business leaders alleged the 'corporate robbery' going on in the name of corporate loan would cast disastrous effect on the country's economy.
Officials observed that financial irregularities are taking place for lack of regular monitoring and audit from Bangladesh Bank. Some officials of the central bank apprehended that most of these dubious loans cannot be recovered as its share lands in the pockets of people close to the powers that be.
The central bank has found involvement of 26 local and foreign banks, including the Sonali Bank, in the Hallmark loan scam, the most daring pecuniary offence in the banking sector.These banks helped each other in the surreptitious lending operations, the central bank said, quoting its investigation report.
Dr Salehuddin Ahmed, a former Bangladesh Bank governor, expressed deep concern over the rise in financial fraudulence.He held the central bank responsible for the Hallmark scam.
Bangladesh Krishi Bank chairman and former BB deputy governor Khandker Ibrahim Khaled said officials of Sonali Bank and the central bank were "equally responsible" for the Hallmark scam. "Involvement of some ruling influential in the scam is being also heard of."He demanded exemplary punishment of those involved in the loan scam, so that it stands out as a deterrent.
A BB official, wishing anonymity, said that the politically appointed directors of the Sonali Bank played a pivotal role in the lending process."Although most of these politically appointed directors are ignorant of the tricks of the trade in banking, they do not allow other efficient bankers to function well," he alleged.
http://www.daily-sun.com/details_Banditry-involving-many-banks-unveiled_260_1_1_1_2.html
On Sun, Sep 9, 2012 at 10:36 AM, Isha Khan <bdmailer@gmail.com> wrote:
http://www.thedailystar.net/newDesign/news-details.php?nid=248964
http://www.thedailystar.net/newDesign/news-details.php?nid=248952
On Thu, Sep 6, 2012 at 10:48 AM, Isha Khan <bdmailer@gmail.com> wrote:
http://www.prothom-alo.com/detail/date/2012-09-06/news/287037
On Wed, Sep 5, 2012 at 11:57 AM, Isha Khan <bdmailer@gmail.com> wrote:
On Wed, Sep 5, 2012 at 10:31 AM, Isha Khan <bdmailer@gmail.com> wrote:
Tk 4,000cr loan scam is nothing big: Muhith
"People for nothing are raising hue and cry on the issue and tarnishing the image of the country,"the minister said.
http://www.thedailystar.net/newDesign/latest_news.php?nid=40520
On Wed, Sep 5, 2012 at 10:20 AM, Isha Khan <bdmailer@gmail.com> wrote:
Muhith ridicules media outcry; experts shocked : http://www.thedailystar.net/photo/2012/09/05/2012-09-05__fr01.jpg
AL men plundering banks like in 72-75: Fakhrul
http://news.priyo.com/politics/2012/09/04/al-men-plundering-ba-58982.htmlSonali Bank Loan Scam-The enemy within
This story of corruption is part of a large, dark picture of a more than Tk 3,500-crore embezzlement by textile company Hall-Mark Group and five other companies in connivance with the bank officials and some influential political figures.
http://www.thedailystar.net/newDesign/news-details.php?nid=248291
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