Professor Abul Barkat, economist and former chairman of Janata Bank, has been arrested in connection with a Tk297 crore embezzlement case involving the AnonTex Group.
The Dhaka Metropolitan Detective Branch (DB) detained Barkat from Dhanmondi-2 around 11:30pm on Thursday night, according to DB Joint Commissioner Nasirul Islam.
The Anti-Corruption Commission (ACC) filed a case against Barkat and 22 others on February 20 for allegedly granting unlawful loans to 22 entities under the AnonTex Group.
The case alleges that Barkat, along with former Bangladesh Bank governor Atiur Rahman and others, colluded in forging documents to disburse the funds, resulting in large-scale financial irregularities.
The ACC claims the embezzlement was carried out through deceptive and unethical practices, causing significant loss to public finance.
Professor Barkat previously chaired the Economics Department at Dhaka University and served as president of the Bangladesh Economics Association.
He also held the position of Janata Bank chairman during the Awami League government.