The High Court on Sunday wanted to know whether the Anti-Corruption Commission (ACC) has taken any step to probe money-laundering allegations against S Alam Group, and if so, what is the progress of its move.
The court asked the Anti-Corruption Commission lawyer Shaheen Ahmed to place the update information before it on September 29.
The High Court bench of Justice Md Kamrul Hossain Mollah and Justice Kazi Zinat Hoque passed the order during the hearing of a writ petition.
Earlier on August 6, 2023, another High Court bench, on a Suo Motu move, directed the ACC, BFIU and CID to conduct inquiry into the allegations against S Alam Group regarding the transfer and investment of huge amount of money abroad without permission from the Bangladesh Bank.
However, the apex court on February 5 in 2024 modified the HC order.
It said that the ACC and the BFIU, if they want, can independently take steps to inquire into the allegations against S Alam Group.
Mentioning that apex court order, the HC bench asked the ACC lawyer to inform it whether the ACC has taken any step to probe money laundering allegations against S Alam Group.
Barrister Md Rukunuzzaman, a Supreme Court lawyer, filed the writ petition on September 17 seeking HC order on the authorities concerned to attach all immoveable properties owned by S Alam Group, its shareholder directors and their family members.
The petition filed as a public interest litigation also requested the court to impose restrictions on transfer or sale of those properties.
It also prayed to the court to direct Bangladesh Bank to provide information regarding total credit facilities availed by S Alam Group, its shareholder directors and other business concerns from financial institutions or banks, along with information on the present status of outstanding liabilities and to bring laundered money back to Bangladesh from abroad.
The HC bench set next Sunday for resuming the hearing on the petition.
In the petition, the lawyer urged the HC to ask the Anti-Corruption Commission to hold an inquiry into the allegations of siphoning huge amounts of money to foreign countries by S Alam Group and its associated companies.
The lawyer also requested the court to direct the Bangladesh Securities and Exchange Commission (BSEC) to impose restrictions on transferring or handing over shares belonging to S Alam Group, its shareholder directors and their family members.
Lawyer Rukunuzzaman said in the petition that S Alam Group has reportedly laundered a huge amount of money availed from the financial institutions of Bangladesh to Singapore, Cyprus and other foreign countries using various unethical mechanism and massive irregularities.
Therefore, it has become necessary to take immediate appropriate steps by the authorities concerned to bring back or repatriate the funds to Bangladesh for the best interest of the country.
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