Sheikh Abdul Hye Bacchu is a Bangladesh Jatiya politician in Bangladesh and former member of parliament from

Bagerhat-1 Bagerhat-1 is a constituency represented in the Jatiya Sangsad (National Parliament) of Bangladesh. Since 6 August 2024 the constituency is vacant. Boundaries The constituency encompasses Chitalmari Upazila, Chitalmari, Fakirhat Upazila, Fakirh ...

Career

Bachchu was elected to parliament from

as a candidate of Jatiya Party in 1988. He claimed to have close ties with Prime Minister

Sheikh Hasina Sheikh Hasina (''née'' Wazed; born 28 September 1947) is a Bangladeshi politician who served as the tenth prime minister of Bangladesh from June 1996 to July 2001 and again from January 2009 to August 2024. Premiership of Sheikh Hasina, Her ...

. In 2011 he opened a deep sea fishing company, Eden Fisheries Ltd, and by 2013 had bought 11 ships for 1.5 billion taka. Bachchu served as the chairman of Basic Bank from September 2009 to 2013. Basic Bank is a state owned bank in Bangladesh.

Controversy

During Bachchu's chairmanship more than 20 billion taka was embezzled from the bank. In 2015

Bangladesh Anti Corruption Commission The Anti Corruption Commission (; ''often abbreviated:'' ACC, ) is the principal government agency against corruption in Bangladesh. History The Anti-Corruption Commission was formed through an act promulgated on 23 February 2004 that came ...

filed 56 cases regarding the corruption in the bank. According to

Bangladesh Bank Bangladesh Bank (BB; ) is the central bank of Bangladesh and is a member of the Asian Clearing Union. It is fully owned by the Bangladesh, Government of Bangladesh. The bank is active in developing green banking. and financial inclusion poli ...

, 45 billion taka in total was embezzled from the bank from 2010 to 2013, during the chairmanship of Bachchu. In July 2017 Bangladesh High Court ordered Bangladesh Anti Corruption Commission to investigate his alleged role in the Basic Bank scam. He was interrogated by Bangladesh Anti Corruption Commission on 5 December 2017 for the first time since the cases were filed. He was interrogated by the Commission again on 8 January 2018. According to the investigation of

Bangladesh Financial Intelligence Unit The Bangladesh Financial Intelligence Unit is a government agency of Bangladesh responsible for investigating money laundering, suspicious transactions, and cash transaction reports. The unit works under Bangladesh Bank. A F M Shahinul Islam is t ...

in 2014, 200 million taka was transferred from firms that received fraudulent loans from Basic Bank to the accounts of the younger brother of Bachchu. Bachchu's younger brother, Sheikh Shariar Panna, used to help arrange loans from the bank while taking a large percentage of the loans as "consultancy fees". The Finance Minister of Bangladesh,

Abul Maal Abdul Muhith Abul Maal Abdul Muhith (25 January 1934 – 30 April 2022) was a Bangladeshi economist, writer, civil servant, secretary, diplomat and politician. He served as the finance minister of the government of Bangladesh from January 2009 until January ...

, said that massive embezzlement took place in Basic Bank and that Bachchu was responsible for it.

References

Bangladesh Jatiya Party politicians Living people Bangladeshi bankers 4th Jatiya Sangsad members Year of birth missing (living people) People from Bagerhat District {{Khulna-politician-stub