A court has sent economist and former Janata Bank chairman Abul Barkat to jail in a loan fraud case over Tk 2.97 billion provided to the AnonTex Group. However, the disbursement of large sums mainly took place during the period 2013-14, when former president of the Bangladesh Economic Association Barkat was the chairman of Janata Bank. It is alleged that Janata Bank, which was once financially stable, became weak under Barakat. It is alleged in the case that the accused have embezzled Tk 2.97 billion from Janata Bank by approving, disbursing and accepting loans through this fraud. The ACC alleges that former Janata Bank Chairman Barkat and other senior officials at the bank misused their power to help “provide loans and embezzle them”.
