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“He [Tipu] changed his father’s name in the bank’s Know Your Client [KYC] form,” the official said.

In the loan application, Tipu stated that he got a contract from the Directorate General of Food to supply it 50,000 tonnes of wheat worth Tk 120.50 crore.

He also mentioned that he had already supplied the directorate with 15,000 tonnes of wheat by “a truck within a day” after opening the LTR account with the BDBL.

“It is impossible to transport 15,000 tonnes of wheat by only one truck within a day, yet the bank officials sanctioned Tk 25.5 crore loan to Dhaka Trading,” the official pointed out.

Without examining Dhaka Trading’s loan repayment capacity or financial records, the BDBL officials hastily approved the loan on April 9, 2012.

When the bank hired an audit firm to look into the matter in 2015, the auditors found that all the documents related to the tender and supply of wheat to the directorate were false. The truck’s registration number was also fake.

When the bank contacted the officials of the directorate, they said no such contract was given to Dhaka Trading, added the BDBL official.

Contacted, ACC Deputy Director Gulshan Anowar Prodhan said the investigation is still going on. He declined to comment further.

The correspondent tried to reach Tipu over his mobile phone several times, but it was found switched off.