Court orders freezing S Alam family shares of Tk 35.63b

A Dhaka Court on Thursday ordered to freeze more than 321 million shares in 24 different companies owned by S Alam Group owner Mohammad Saiful Alam and his family members.

The nominal value of these shares is Tk 35.63 billion, according to the Anti-Corruption Commission (ACC).

Judge of the Metropolitan Senior Special Judge's Court

in Dhaka Md Zakir Hossain passed the order after hearing a petition filed by the ACC.

Earlier on the day, ACC Deputy Director Md Abu Sayeed, also head of the inquiry team, filed an application in the court seeking necessary order.

Anti-Corruption Commission Public Prosecutors Mir Ahmed Ali Salam who appeared in the court hearing confirmed the court order to the FE.

The ACC came to know through an inquiry that family members of Saiful Alam are trying to hand over these shares. So, these shares need to be frozen for the sake of justice.

Earlier on January 14, the same court ordered the government to freeze 87 bank accounts and confiscate immovable properties worth Tk 2.0 billion owned by S Alam Group owner Mohammed Saiful Alam, his wife Farzana Parveen and 16 family members.

[email protected]