Staff Reporter :
A Dhaka court has ordered the seizure of over 32.10 crore shares belonging to Mohammed Saiful Alam and his family, collectively valued at approximately Tk3,563 crore across 24 companies.
The order was issued by Dhaka Metropolitan Senior Special Judge Md Zakir Hossain on Thursday following a petition filed by the Anti-Corruption Commission (ACC). The ACC revealed that Saiful Alam and his family were attempting to transfer the shares and sought their immediate seizure to prevent financial misconduct.
This follows the freezing of 68 bank accounts and the confiscation of 16 properties belonging to the S Alam Group.
Investigations into allegations of loan embezzlement, money laundering, and banking fraud involving the S Alam Group have been ongoing for some time.
Further investigations are being carried out by the ACC, the National Board of Revenue (NBR), and other relevant agencies into various financial irregularities linked to the conglomerate.