Two cases filed against S Alam Group chairman, others over embezzling Tk1,102cr
The Anti-Corruption Commission (ACC) has filed two cases against Mohammed Saiful Alam, chairman of S Alam Group, for embezzling Tk1,102 crore through fraudulent bank loans obtained using fake and non-existent companies.
Assistant Director of the ACC's Public Relations Office Tanzir Ahmed confirmed the matter to journalists today.
According to the ACC, in one case, Saiful and 36 others stand accused of misappropriating Tk549 crore. The second case involves 31 individuals charged with embezzling Tk553 crore using similar fraudulent methods.
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Earlier on 7 October 2024, the court imposed a travel ban on S Alam Group owner Mohammed Saiful Alam, his wife Farjana Pervin and 11 other family members – his sons Ashraful Alam and Ahsanul Alam; brothers Morshedul Alam, Sahidul Alam, Rashedul Alam, Abdus Samad, Osman Gani, and Mohammad Abdullah Hasan; sister-in-law Shahana Ferdous; Ferjana Begum; and Mishkat Ahmed.
