Filing case against S Alam's son, others approved

The Anti-Corruption Commission (ACC) has approved filing a case against 54 individuals, including former chairman of Islami Bank Bangladesh Ahsanul Alam, for alleged embezzlement of over Tk 9.93 billion.

ACC Director General (Prevention) Akhter Hossain disclosed this information to the media at the ACC headquarters in Segunbagicha, Dhaka on Wednesday.

Ahsanul Alam is the son of controversial businessman Saiful Alam, owner of the S Alam Group.

The ACC DG said the accused misappropriated more than Tk 9.93 billion from the Islami Bank's Jubilee branch in Chattogram through fraudulent activities.

The funds were siphoned off on October 10 last year under non-performing deals, he added. "Additionally, they engaged in money laundering by concealing the sources of the invested funds."

He further explained that the accused face charges under multiple sections of the Penal Code (409/420/467/468/471/477A/109), the Prevention of Corruption Act, 1947 [section 5(2)], and the Money Laundering Prevention Act, 2012 [(Section 4(2)].

On December 1, 2024, the anti-graft watchdog agency filed a case against 58 people, including Ahsanul Alam, on charges of embezzling Tk 10.92 billion through loan fraud from Islami Bank Bangladesh.

[email protected]