A Dhaka court has ordered the seizing of 469 acres of land owned by S Alam Group Chairman Mohammad Saiful Alam and his associated individuals and entities.
Dhaka Metropolitan Senior Special Judge Zakir Hossain Ghalib issued the order on Tuesday following a petition filed by Anti-Corruption Commission (ACC) Deputy Director Tahsin Munabil Haque.
According to the ACC petition, the confiscated assets include 8.58 acres of land in Gazipur Sadar, 4.86 acres in Gazipur’s Sreepur, 180.2821 acres in Maheshkhali of Cox’s Bazar, 2.12 acres in Cox’s Bazar Sadar, 0.9675 acres in Chakaria, and 272.68 acres in Chattogram.
The ACC stated that the chairman and his associates are under investigation for alleged money laundering. The ACC sought the court’s order to prevent the transfer or disposal of these assets before the completion of the investigation.
This is the latest in a series of court actions against the conglomerate. On October 20, the same court froze 513 crore shares belonging to Saiful Alam and 105 affiliated companies.
Earlier on 25 September, it ordered the issuance of Interpol Red Notices against Saiful Alam, S Alam Group Vice-Chairman Abdus Samad, and Director Mohammad Abdullah Hasan.
On 9 July, the court directed the freezing of 53 bank accounts linked to S Alam and related entities, holding Tk 113.09 crore.
On 24 June, it ordered the seizure of a two-storey house in Limassol, Cyprus, as well as $350,000 invested in Hazec International Pte Ltd in the British Virgin Islands, along with investments in 18 other offshore companies, including Peacock Property Holdings.
Additionally, investments held under six trusts managed by Jersey Trust Company were also frozen. Over the past year, the court has successively ordered the confiscation or freezing of thousands of crores assets, including land, bank accounts, and shares belonging to S Alam Group and its associates.
On 7 October, travel bans were also imposed on Saiful Alam, his wife Farzana Parveen, and 12 family members amid the ongoing corruption and money laundering investigations.
