Former Janata Bank chairman and noted economist Professor Abul Barkat was arrested late Thursday night in Dhaka in connection with a major loan fraud case involving nearly Tk 297 crore.
A team from the Detective Branch (DB) of Dhaka Metropolitan Police (DMP) picked him up from his residence on Road No. 2 in Dhanmondi around 11 pm.
Confirming the development, Deputy Commissioner Md Talebur Rahman of DMP’s Media and Public Relations Division said, “He has been arrested in a case filed by the Anti-Corruption Commission (ACC) and taken to the DB office. He will be handed over to the ACC on Friday morning.”
The arrest comes in the wake of a corruption case filed on June 3 by ACC Deputy Director Nazmul Hossain against 23 individuals, including former Bangladesh Bank governor Dr Atiur Rahman, former Janata Bank director Jamal Uddin Ahmed, and Barkat himself.
The case centres around allegations of loan fraud and embezzlement of Tk 297.38 crore from Janata Bank through AnonTex Group.
According to the case statement, a plot of land bought for Tk 3.04 crore was fraudulently overvalued at Tk 164.82 crore. Based on this inflated valuation, multiple loans were approved and disbursed, leading to the misappropriation of the funds.
The AnonTex Group chairman, Md Yunus Badal, allegedly diverted Tk 50.5 crore from an approved Tk 180-crore loan meant for a subsidiary firm.
The ACC claims the accused officials, including Dr Barkat, abused their authority to facilitate the approval and release of these fraudulent loans. Investigators found evidence implicating Barkat, prompting the commission to request the DB’s assistance in detaining him.
