The Anti-Corruption Commission, or ACC, has prosecuted former Bangladesh Bank governor Atiur Rahman, former Janata Bank chairman Abul Barkat, former Janata Bank director Jamal Uddin Ahmed, and 20 others for embezzling Tk 2.97 billion through loan fraud involving AnonTex at Janata Bank.

ACC Deputy Director Nazmul Hossain filed the lawsuit on Thursday, alleging that the defendants illegally approved and disbursed loans in exchange for inflated valuation of mortgaged land, thereby defrauding Janata Bank.

According to ACC Director General Md Akhtar Hossain, the case has been registered at the Dhaka Integrated District Office 1 of the commission.

The formal charge states that the fraud took place from Feb 5, 2013 to December 2024, through exaggerated property valuations and other deceptive practices.

The investigation into AnonTex’s loan irregularities began in 2022, but at that time no sufficient evidence was found against the accused.

Among the other individuals named in the lawsuit are:

M/S Suprov Spinning Limited

• Managing Director Md Anwar Hossain

• Director Md Abu Talha

Janata Bank

• Former branch manager and general manager - subsequently Managing Director and CEO Abdus Salam Azad

• Former deputy general manager Azmul Haque

• Former assistant general manager Ajay Kumar Ghosh

• Former manager (Industrial Loan-1) Md Golam Azam

• SME Division’s Executive Engineer Md Shahjahan

• SEO Md Emdadul Haque

• Former deputy general manager Md Abdul Jabbar

• Former general manager and deputy managing director Md Golam Faruq

• Former Deputy Managing Director Omar Faruq

• FCA Md Emdadul Haque

• Nagibul Islam Dipu

• RM Debnath

• Md Abu Naser

• Sangeeta Ahmed

• Nitai Chandra Nath

AnonTex Group

• Chairman and Managing Director Md Younus Badal

Bangladesh Bank

• Former assistant director Mosammet Ismat Ara Begum

• Former deputy governor-2 Abu Hena Mohammad Raji Hassan

According to the First Information Report, or FIR, the borrower claimed ownership of the mortgaged property before actually acquiring it and presented a fictitious structure on that land as collateral.

In collusion with one another, the accused allegedly forged documents and inflated valuations despite the fact that no real factory or structure existed on the property.

A plot of land purchased for Tk 30.5 million – without any structures – was allegedly appraised at Tk 1.65 billion—an exaggerated valuation.

Using this inflated valuation, the defendants secured and distributed loans, resulting in the misappropriation of Tk 2.973 billion from Janata Bank.

The FIR details each individual’s role in the process, asserting that the first defendant Md Anwar Hossain, managing director of M/S Suprov Spinning, facilitated the inflated property valuations, while other defendants assisted or benefited from this scheme.

Director Md Abu Talha, for instance, is accused of knowingly using false documents to help embezzle funds from Janata Bank.

Several former Janata Bank officials—including the ex-branch manager and general manager Abdus Salam Azad, former DGM Azmul Haque, former AGM Ajay Kumar Ghosh, and others—are accused of facilitating the approval and disbursement of these fraudulent loans in violation of Bangladesh Bank regulations.

Although some Janata Bank officials initially had warned that approving this loan would breach central bank policies, they ultimately recommended it subject to approval from Bangladesh Bank.

Investigators found that AnonTex Group Chairman Yunus Badal embezzled Tk 505 million of the approved Tk 1.8 billion loan by transferring it to accounts held by other entities under the group.

Former Janata Bank chairman Abul Barakat, former director Jamal Uddin Ahmed, and several other senior officials are alleged to have misused their authority to assist in approving and embezzling the funds.

Former Bangladesh Bank assistant director Ismat Ara, former deputy governor-2 Abu Hena, and ex-governor Atiur have also been implicated for enabling the loan to a relatively unknown business entity, ultimately facilitating the misappropriation of funds.

The FIR notes that while evidence suggests involvement by additional Bangladesh Bank personnel—namely individuals who worked at the Department of Off-Site Supervision on Nov 24, 2013, including joint directors, deputy general managers, and executive directors, their names have not been included due to unavailability of personal details.

The ACC intends to review their roles during the investigation.

Atiur became the 10th Governor of Bangladesh Bank in May 2009, just five months after the Awami League formed its government. His tenure was extended once, but he resigned in March 2016 amid controversy over a reserve heist, before the scheduled end of his term in August of that year.

Barkat served as chairman of Janata Bank for two consecutive terms, totalling five years, until his departure in September 2014.

He was first appointed to the position for three years on Sept 9, 2009.