Dhaka Metropolitan Senior Special Judge Zakir Hossain Galib issued an order to freeze 42,606,868 shares of 36 companies owned by Jemcon Group on Thursday (March 13).
The order was passed following a petition from Anti-Corruption Commission (ACC) Deputy Assistant Director Rezaul Karim. The estimated value of the frozen shares is Tk 6.044 billion.
According to the petition, the investigation revealed that Jemcon Group’s ownership includes Kazi Nabil Ahmed, Kazi Anis Ahmed, Kazi Inam Ahmed, late Kazi Shahed Ahmed, his wife Amina Ahmed and their associated family members.
They collectively own the aforementioned shares in various companies.
ACC argued that these shares were in the process of being transferred. If the transfer were completed, it would hinder the ongoing investigation and potential legal proceedings.
To ensure the integrity of the case and facilitate the government’s ability to seize assets following a formal charge sheet submission, the court deemed it necessary to freeze the shares.
ACC has been conducting a comprehensive investigation into allegations of corruption and asset misappropriation involving Jemcon Group.
The freezing of these shares is a preventive measure to ensure the assets remain intact while the inquiry and subsequent legal proceedings continue.
MAL/SH
