Court orders seizure of 431-decimal land of S Alam, others linked with him

A Dhaka court ordered on Sunday seizure of 431 decimals of land registered in the names of S Alam Group owner Saiful Alam and other individuals related to his interest. Dhaka Metropolitan Senior Special Judge Md Sabbir Faiz passed the order allowing an application filed by the Anti-Corruption Commission (ACC), reports BSS. According to the ACC plea, a joint investigation team has been formed to investigate and then submit a report to the ACC over allegations of money laundering against Saiful Alam and other entities and individuals linked with him. It was alleged that Saiful Alam and his family members, along with the entities and associated individuals, illegally obtained loans in their own names and in the names of others from various banks in violation of rules. Thus they embezzled the funds and acquired a huge amount of assets at home and abroad in their own names and in the names of their family members. During the inquiry, information received from various sources revealed that Saiful Alam and his family members were attempting to transfer, shift, or dispose of the immovable property. Therefore, it was necessary to urgently attach the immovable property of Saiful Alam, his family members, the entities and individuals associated with those entities, the plea added.