A court in Dhaka has ordered to freeze foreign bank accounts, investments and insurance policies held by S Alam Group’s chairman Saiful Alam, his wife, and their children.
Dhaka Metropolitan Senior Special Judge Md Zakir Hossain Galib passed the order on Thursday following a petition by the Anti-Corruption Commission (ACC) Deputy Director Tahasin Monabil Haq.
Tanzeel Ahmed, assistant director of the ACC’s Public Relations Department, has confirmed the matter. The judge also ordered the ACC to send a copy of the order to the concerned authorities of Singapore for the next course of action.
The court ordered to freeze a total of 40 bank accounts and several insurance policies in the name of Saiful Alam and four more bank accounts belonging to his wife in Singapore.
Additionally, Saiful Alam and his wife jointly invested approximately 68 million Singaporean dollars in two institutions. Saiful Alam is also a director and shareholder in four companies, while his wife holds the same positions in another four companies.
Their son, Ashraful Alam, has investments and accounts in two financial institutions, and is a director and shareholder in one company.
Another son, Ahsanul Alam, holds the position of director and shareholder in one company and maintains eight bank accounts and insurance policies in various financial institutions.
Besides, another family member, Ahmed Belal, has two bank accounts, and daughter Maimuna Alam holds one insurance policy and metal assets worth 54,400 Singaporean dollars.
The youngest son, Asadul Alam Mahir, holds one additional bank account.
The ACC mentioned in its petition that the accused family acquired these assets by laundering money earned through criminal activities.
The commission requested a freeze and seizure order from the court to prevent the transfer or disposal of these assets. The court accepted the petition and issued the order accordingly.
Earlier, on Wednesday, the same court ordered the ACC to freeze 53 bank accounts in Bangladesh, with deposits of Tk 113.09 crore, belonging to S Alam, his family members, and his beneficiaries over corruption allegations.
The court ordered the ACC to seize foreign assets of S Alam and his wife Farzana Parveen in three countries, including the British Virgin Islands, over allegations of money laundering.