Sasco tex managing director, wife sent to jail after late-night arrest

The Managing Director of Messrs Sasco Tex (BD) Ltd, Atiar Rahman Dipu—one of Al-Arafah Islami Bank's top defaulting investment clients—and his wife and company Director, Papia Rahman, were arrested at around 11:45pm on Saturday from the Mirpur Pallabi DOHS area in the capital.

When produced before the court on Sunday (23 November 2025), their bail petitions were rejected and they were ordered to be sent to jail.

Sasco Tex (BD) Ltd owes around Tk164 crore (written-off amount) to the bank's Uttara Model Town Branch. Of the 10 criminal cases filed by the bank under the Negotiable Instruments Act, the court earlier sentenced the couple to one year each in eight cases (totalling 8 years) and three months each in two cases (totalling 6 months) — amounting to a combined jail term of 8 years and 6 months. They were also fined Tk80 crore, equivalent to the value of the dishonoured cheques.

The couple had been absconding despite their convictions and were arrested by Banani Police Station. Meanwhile, money execution proceedings related to the bank's Artha Rin cases for loan recovery are ongoing.