A long-sought fugitive co-operative society proprietor, accused of absconding with approximately BDT 300 million in client deposits, has been apprehended by law enforcement officers following a targeted raid in Barishal.

Biswajit Haldar Khokan, proprietor of the ‘Astha Loan and Co-operative Society Limited’, was detained on Sunday afternoon from the Kolartima-Kashipur enclave within the jurisdiction of the Barishal Airport Police Station. Khokan, son of Bimal Chandra Haldar of Ganapatikathi village under Nesarabad Upazila, had been on the run for an extended period to evade multiple court mandates.

According to police sources, Khokan faces arrest warrants across six distinct court cases, predominantly brought forward under Complaint Register (CR) filings by aggrieved investors. Amongst these proceedings, he has already been convicted and sentenced in five separate cases, whilst a general arrest warrant remained pending in a sixth matter.

The ‘Astha Loan and Co-operative Society Limited’ had gathered capital from approximately 2,000 local depositors who entrusted their life savings to the institution under the promise of secure returns. Troubles surfaced when the organisation abruptly suspended operations, leaving members unable to withdraw their principal capital or accrued interest. Financial misadministration and embezzlement within grassroots micro-credit and co-operative ventures remain a persistent challenge across regional Bangladesh, where rural depositors often lack direct access to conventional commercial banking channels and instead rely on local credit societies. When such entities default or collapse, low-and middle-income families bear the brunt of the financial hardship.

The arrest operation was led by Assistant Sub-Inspectors Md Riad Hasan and Md Shaon of the Nesarabad Police Station, who acted upon specific intelligence regarding the suspect’s whereabouts in Barishal.

Confirming the operation, Officer-in-Charge of Nesarabad Police Station, Md Mehedi Hasan, stated that Khokan had deliberately evaded law enforcement since the issuance of the judicial warrants. Police confirmed that following the completion of standard legal procedures, the accused is scheduled to be presented before the relevant court on Monday morning.