Due to ongoing corruption allegations, the court has ordered the freezing of 513 crore 18 lakh 32 thousand 282 shares belonging to controversial businessman S Alam Group’s Chairman Mohammed Saifful Alam and 105 companies associated with him.
Dhaka Metropolitan Senior Special Judge Sabbir Foyez issued this order on Monday following an application by the Anti-Corruption Commission (ACC). The value of these shares is Tk8,003. ACC Public Relations Officer Aktarul Islam confirmed this information. ACC Deputy Director Tahsin Munabil Haq applied for this restriction.
Prior to this, on 25 September 25, the court ordered the issuance of Interpol Red Notices against S Alam Group Chairman Mohammed Saiful Alam, the group’s Vice Chairman Abdus Samad, and Director Mohammed Abdullah Hasan.
On 9 July, the court ordered the freezing of 53 bank accounts belonging to S Alam Group Chairman Mohammed Saifful Alam and entities and individuals associated with him. These bank accounts hold Tk113.09 crore. On 24 June, orders were issued to seize a two-story house owned by Saiful Alam located in the Limassol district of Cyprus, their invested $350,000 in Hazek International Pte Ltd in the British Virgin Islands, and investments in 18 other companies in the British Virgin Islands, including Peacock Property Holdings.
Additionally, orders were issued to seize investments of various amounts held in six trusts under a Jersey trust company. Before that, on 23 April, the court ordered the seizure of his 159 acres of land valued at Tk407 crore. On April 17, the court ordered the freezing of 1,360 bank accounts of S Alam. These accounts contain Tk2,619 crore.
On 10 March, the court ordered the seizure of 1,006 bighas of land belonging to S Alam. On 9 April, an order was issued to seize his 90 bighas of land. On the same day, the court froze 374 bank accounts held in the names of his close associates. On 23 February, the court ordered the freezing of shares worth Tk8,133.56 crore. On 3 February, the court ordered the seizure of 175 bighas of assets valued at Tk368.25 crore.
On 12 February, the court ordered the freezing of Tk437.85 crore. The value of these shares is Tk5,109 crore. On 16 January, the same court ordered the freezing of shares worth Tk3,563.84 crore belonging to S Alam and his family members. On 7 October last year, the court imposed a travel ban on S Alam, his wife Farzana Parveen, and 12 of his family members.
