Court freezes 53 more bank accounts with Tk113cr linked to S Alam Group chairman
Earlier, on 17 April, court ordered the freezing of 1,360 bank accounts, holding Tk2,619 crore, in the name of Saiful Alam and individuals linked to his interests
A Dhaka court has ordered authorities concerned to freeze 53 bank accounts, holding Tk113.09 crore, belonging to S Alam Group Chairman Mohammad Saiful Alam and individuals or entities connected to him.
Dhaka Metropolitan Senior Special Judge Md Zakir Hossain Galib passed the order today (9 July), after hearing a petition from the Anti-Corruption Commission (ACC), said the commission's Public Relations Officer Akhtarul Islam.
Earlier, on 17 April, the same court ordered the freezing of 1,360 bank accounts, holding Tk2,619 crore, in the name of Saiful and individuals linked to his interests.
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According to the ACC's plea, a joint inquiry and investigation team has been formed to probe allegations of money laundering against Saiful and his associates. The ACC claims that individuals linked to Saiful have attempted to transfer or conceal funds from various branches of First Security Islami Bank, Mutual Trust Bank, and Islami Bank Bangladesh.
The anti-graft watchdog warned that if the funds are moved before the probe is complete, recovering them later would be extremely difficult.
Therefore, it said in its plea that the freezing of the accounts was deemed necessary in line with Sections 10 and 14 of the Money Laundering Prevention Act 2012 and Rule 18 of the ACC Rules 2007.
Earlier, on 24 June, the same court ordered to freeze investments made by Saiful Alam and his wife Ferjana Pervin in different countries, including Cyprus and British Virgin Islands.
The court in its order, asked authorities to freeze investment made in 20 companies in British Virgin Islands, including $3.50 lakh in Hajek International PTE Limited and investment of undisclosed amount made in Peacock Property Holdings in British Virgin Islands.
It also ordered authorities to freeze investments of different amounts in six trusts under Jersey Trust Company.
The court also ordered the attachment of a two-storey building owned by the couple in Limassol, Cyprus.
