A Dhaka court has ordered the freezing of 1,360 bank accounts containing Tk 2,619.07 crore linked to S. Alam Group Chairman Mohammad Saiful Alam and his associates, as part of an ongoing money laundering investigation.
The order was issued on Thursday by Dhaka Metropolitan Sessions Judge Md Zakir Hossain Galib, following a petition filed by Anti-Corruption Commission (ACC) Deputy Director Tahasin Munabil Haque.
According to court documents, a joint investigation team has been formed to probe allegations of money laundering involving Alam and his close associates. Investigators allege attempts have been made to transfer or conceal funds from various accounts at First Security Islami Bank, necessitating the freeze to preserve potential evidence.
This is the latest in a series of court actions against Alam and his family. On October 7, the court imposed a travel ban on 12 family members, including his wife Farzana Parveen. Since then, the court has ordered the seizure or freezing of over Tk 17,000 crore worth of shares, assets, and land, including 1,175 bighas of property and thousands of crores in bank accounts and securities.
