A Dhaka court on Wednesday ordered to freeze shares, belonging to S Alam Group owner Mohammed Saiful Alam and his family members and worth more than Tk 5,109 crore, of 42 companies.
Dhaka Metropolitan Senior Special Judge Zakir Hossain Galib passed the order, allowing a plea of the Anti-Corruption Commission.
The ACC in its plea said that the agency was probing allegations of laundering USD one billion to different countries including Singapore, British Virgin Island, and Cyprus, against Mohammed Saiful Alam and his family members.
According to the plea, they have received information of these 437, 85, 02, 274 shares owned by Mohammed Saiful Alam and his family members of 42 companies. The nominal value of these shares is Taka 5109, 67, 96, 260.
"If the accused can transfer or hand over these shares, all our efforts will go in vain. So these shares and profits against these should be frozen," the plea added.
On October 7, 2024, the court imposed a travel ban on Mohammad Saiful Alam, his wife, children, and 13 other family members.
