Tk15cr assets under S Alam’s housemaid’s name!

The Income Tax Department has discovered approximately Tk15 crore worth of assets, including fixed deposits and land, in the name of Marzina Akter, a housemaid employed at the Chattogram residence of Saiful Alam Masud, head of the S Alam Group.

Officials found no tax file for Marzina, raising suspicions that similar assets linked to S Alam might be held in the names of other such individuals.

A senior official from the NBR's Income Tax Department, who requested anonymity, told TBS, "We have found a Tk3 crore fixed deposit in Marzina's bank account. Additionally, a plot of land worth Tk5 crore has been traced in her name. The current market value of this land could be over Tk12 crore."

The fixed deposits were held at Islami Bank's Panchlaish branch in Chattogram, and the land registered under her name is also located in the city.

The official estimated that Marzina's total assets might range between Tk15 to Tk16 crore, adding, "This money cannot belong to a housemaid."

Furthermore, it was confirmed that Marzina has no registered tax file.

Sources indicate that Marzina works as a housemaid at S Alam's residence in the Sugandha residential area of Chattogram city.

The NBR official also said, "We are investigating other individuals and institutions associated with S Alam, similar to Marzina."

Tax Zone 15 of the NBR uncovered these assets in Marzina's name.

When contacted, Ahsan Habib, commissioner of Tax Zone-15, refrained from providing specific details, stating, "We are collecting information. It will take some more time to finalise the accounts."

However, another official from Tax Zone-15 said, "It is not possible to uncover all the tax evasion information of S Alam and his group through this zone alone. Several other NBR offices are also working towards this goal."

So far, data on 65 individuals and institutions, including S Alam, his family members, and various business entities, have been collected from banks and financial institutions.

Information on transactions totalling Tk1.8 lakh crore over the past five years has been gathered, with some unusual activities noted for an entity named S Alam Cold Rolled Steels Ltd. 

The tax office has yet to determine the exact loan amount within the Tk1.8 lakh crore.

However, the official remarked, "Their debt could be around Tk90,000 crore."

On 14 August, Income Tax Zone-15 requested account details for S Alam, his family, and related businesses from 91 banks and financial institutions. A month later, significant transactions were uncovered in these accounts.