Tk297cr Janata Bank loan fraud: SC upholds HC order granting bail to Abul Barkat

The Appellate Division has upheld the High Court order granting bail to former Janata Bank chairman Prof Abul Barkat in a case over the alleged embezzlement of Tk297 crore through loan fraud involving AnonTex.

A bench led by Chief Justice Zubayer Rahman Chowdhury passed the order today (21 May), according to court sources.

Barrister Mostafizur Rahman Khan appeared for Barkat during the hearing.

Earlier, the High Court had granted bail to the economist and the Dhaka University professor in the same case.

Detective Branch (DB) police arrested Abul Barkat on 11 July last year over allegations related to the loan scam.

The Anti-Corruption Commission (ACC) in February last year filed the lawsuit against 23 individuals.

According to the case statement, the alleged fraud took place during Barkat’s tenure as chairman of Janata Bank, involving loans issued to garment company AnonTex through alleged overvaluation of land and other irregularities.

Former Bangladesh Bank governor Atiur Rahman and former Janata Bank director Jamal Uddin Ahmed were also made accused in the case, alongside officials of AnonTex. A total of 23 people were named in the case.

Several former senior officials of Bangladesh Bank and Janata Bank were also accused in the case filed over allegations of loan fraud through inflated land valuation.

Barkat, a former president of the Bangladesh Economic Association and a professor at Dhaka University, was appointed chairman of Janata Bank on 9 September 2009 for a three-year term. He later served two terms and stepped down in September 2014 after nearly five years in office.