Top defaulter Sasco Tex BD’s MD Atiar Rahman Dipu, his wife Papia Rahman arrested

Managing Director of Messrs Sasco Tex (BD) Ltd Atiar Rahman Dipu, one of the top defaulting investment clients of Al-Arafah Islami Bank, and his wife and company Director Papia Rahman were arrested last night at approximately 11:45 PM from the Mirpur Pallabi DOHS area in the capital.

On Sunday, 23 November 2025, when they were produced before the court, the court rejected their bail plea and ordered them to be sent to jail.

According to a press release, Sasco Tex (BD) Ltd. owes approximately Tk. 164.00 crore (written-off amount) to the Bank’s Uttara Model Town Branch. Out of the 10 criminal cases filed by the Bank under the Negotiable Instruments Act against Atiar Rahman Dipu and his wife, the honorable court sentenced them to one year each in 8 cases (total 8 years) and three months each in 2 cases (total 6 months)—amounting to a combined sentence of 8 years and 6 months. Additionally, they were fined Tk. 80.00 crore, equivalent to the value of the dishonored cheques.

After remaining fugitives despite being convicted, they were arrested yesterday by Banani Police Station. Besides, the money execution cases arising from the Bank’s filed Artha Rin (money loan) cases to recover its dues from the defaulting client are also ongoing.