A Dhaka court has directed police to ask Interpol to issue “red notice” against S Alam Group owner Mohammad Saiful Alam and his two brothers, vice chairman Abdus Samad and director Mohammad Abdullah Hasan.
The order was issued on Thursday by Dhaka Metropolitan Senior Special Judge Sabbir Foyez following an petition Tkby the Anti-Corruption Commission (ACC). ACC Deputy Director Tahsin Munabil Haque filed the application.
The application said that the accused created a fake company named AM Trading through criminal misconduct and breach of trust, producing and using forged documents. They allegedly misappropriated Tk 104,20,77,708 in the name of loans by abusing their power. Saiful Alam is accused of transferring, reorganizing, or converting Tk 340 crore of these funds for the benefit of S Alam Super Edible Oil through corruption.
Earlier, on July 10, the court ordered the freezing of 40 bank accounts and several insurance policies in Singapore held in the names of Saiful Alam, his wife, and children. Orders were also issued to freeze four additional accounts in his wife’s name and investments totaling nearly SGD 6.8 million in two entities jointly held by the couple. Prior to that, on July 9, 53 more bank accounts linked to Saiful Alam and associated persons or entities were frozen, holding Tk 113,09,82,868.
On June 24, the court ordered the seizure of a two-story house in Limassol, Cyprus, owned by Saiful Alam, investments of USD 350,000 in Hajek International PTE Limited in the British Virgin Islands, and holdings in 18 other companies in the British Virgin Islands, including Peacock Property Holdings. Investments under six trusts of Jersey Trust Company were also ordered frozen.
Earlier, on April 23, the court seized 159 acres of land valued at Tk 407 crore. On April 17, 1,360 bank accounts of S. Alam were frozen, containing a total of Tk 2,619,07,16,000.
