Economist Abul Barkat sent to jail in Tk297cr embezzlement case
The ACC said Barkat might go into hiding or influence witnesses and disrupt the investigation if granted bail
Renowned Economist and former chairman of Janata Bank Abul Barkat has been sent to jail in connection with a Tk297 crore embezzlement case involving Anontex Group.
Following a hearing, Judge Md Jewel Rana of Dhaka Metropolitan Magistrate Court issued the order this afternoon (11 July).
During today's hearing, ACC Assistant Director Mohammad Shahjahan Miraj, also the investigation officer in the case, produced the accused before the court and requested that Barkat be kept in jail.
Keep updated, follow The Business Standard's Google news channel
The ACC said Barkat might go into hiding or influence witnesses and disrupt the investigation if granted bail.
Defence lawyers argued in favour of bail, while the prosecution opposed it. After hearing both sides, the court rejected the bail petition and ordered the accused to be sent to jail.
Confirming the matter, ACC official Shahjahan Miraj said that although a three-day remand had been sought for further interrogation, the court in question did not have jurisdiction to rule on the remand.
A hearing on the remand petition will be held later in a senior court.
The case, filed by the Anti-Corruption Commission (ACC), alleges Barkat and others misappropriated Tk297 crore through fraudulent means involving loans disbursed by Janata Bank in the name of Anontex Group.
The ACC claims the accused manipulated documents, committed forgery, and falsely portrayed non-existent buildings on mortgaged land to secure loans, even before officially acquiring ownership of the properties.
Abul Barkat was arrested around 11:30pm last night (10 July) from Dhanmondi Road 3 in the capital by the Detective Branch (DB) of police.
On 20 February this year, the ACC filed a case against 23 individuals — including former Bangladesh Bank governor Atiur Rahman and Abul Barkat— over allegations of embezzlement.
The case was lodged by ACC Deputy Director Md Nazmul Hossain.
According to the case statement, the accused conspired to misappropriate Tk297.38 crore through fraud, forgery, and money laundering, using the involvement of Janata Bank officials.
While serving as central bank governor, Atiur Rahman, along with Barkat and others, allegedly facilitated the disbursement of large loans to 22 companies under the Anontex Group.
The ACC alleges that those funds were later embezzled through unethical practices.
Other notable accused in the case include - Former deputy governor of Bangladesh Bank Abu Hena Mohammad Razi Hasan, former assistant director Mosammat Ismat Ara Begum, former Janata Bank Director Jamal Uddin Ahmed, Md Imdadul Haque, Nagibul Islam Dipu, RM Debnath, Md Abu Naser, Sangeeta Ahmed, former Janata Bank director Nitai Chandra Nath, former MD and CEO of Janata Bank Abdus Salam Azad, former deputy general manager Azmul Haque, former AGM Ajay Kumar Ghosh, among others.
Abul Barkat is a former chairman of the Economics Department at Dhaka University and the honorary chief adviser of the Human Development Research Centre (HDRC).
