Court orders freezing 87 bank accounts

FE REPORT | Published: January 14, 2025 23:16:51

A Dhaka court orders freezing 87 bank accounts and confiscating immovable property worth Tk 2.0 billion of embroiled S Alam Group owner Mohammed Saiful Alam, his wife Farzana Parveen and 16 family members.
Judge of the Metropolitan Senior Special Judge's Court Md Zakir Hossain Tuesday passed the orders after hearing two separate petitions filed by the Anti-Corruption Commission (ACC).
Earlier in the day, ACC Deputy Director Md Abu Sayeed, also the head of an inquiry team, filed the applications seeking necessary expropriation orders.
Anti-Corruption Commission Public Prosecutors Mir Ahmed Ali Salam and Mahmud Hossain Jahangir, who appeared in the court hearing, confirmed to the FE the orders passed by the court.
Family members affected include S Alam's mother Chemon Ara Begum, brothers Mohammad Abdullah Hasan, Osman Goni, Rashedul Alam and Shahidul Alam, sons Ahsanul Alam, Ashraful Alam Mahir and Asadul Alam, Osman's wife Farzana Begum and Abdus Samad's wife Shahana Ferdous.
The ACC plea says the family deposited Tk 122.8 million in 19 Union Bank accounts and Tk 135.3 million in 68 Global Islami Bank accounts, "raising concerns about potential fund transfers or laundering".
Additionally, the ACC notes that the family acquired buildings and plots in Chattogram and Dhaka's Gulshan, Dhanmondi, Badda and Uttara areas, valued Tk 2.00 billion, prompting the need for confiscation orders to prevent property transfers.
Upon hearing the petitions the judge passed the orders.
Earlier on October 7, the same court issued a travel ban on S Alam Group owner Mohammed Saiful Alam, his wife Farzana Parveen and 11 members of his family in connection with allegations of laundering US$ 1.0 billion to Singapore and several other countries. The anti-graft body noted with concern that the family might flee the country hindering the investigation and ordered the ban, with the reversal of fortunes of the tycoon following the political changeover brought through July-August uprising.
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