Court orders ex-minister Saifuzzaman's land seizure, freeze of shares worth Tk102cr
A Dhaka Court today (9 March) ordered authorities concerned to freeze shares worth Tk102.85 crore of 23 companies held by former land minister Saifuzzaman Chowdhury and individuals and organisations associated with him.
The court also ordered the seizure of Saifuzzaman's 957 bighas of land in Anwara upazila of Chattogram, estimated to be worth at least Tk4.65 crore.
Dhaka Metropolitan Senior Special Judge Zakir Hossain Galib passed the order in response to applications of the Anti-Corruption Commission (ACC), said ACC Deputy Director Md Mahfuz Iqbal.
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The applications state that a seven-member investigation team of the ACC has been formed to investigate allegations of money laundering against Saifuzzaman and individuals and organisations associated with him.
During the investigation, information about the ownership of shares was found from data at the Office of the Registrar of Joint Stock Companies and Firms. In this situation, it is necessary to block the profits from the shares, the ACC said.
The ACC also stated that if the court does not issue an order to seize Saifuzzaman's immovable properties, there is a risk that the properties will be transferred elsewhere before the investigation is finished. Therefore, it is necessary to seize the immovable properties in accordance with Section 14 of the Prevention of Money Laundering Act, 2012, it said.
