ACC to seize Falu’s assets

The Anti-Corruption Commission (ACC) is set to seize over Tk 3.0 billion worth of assets belonging to the BNP chairperson's former adviser Mohammad Mosaddek Ali Falu in a case involving the acquisition of illegal wealth.

Investigation Officer Gulshan Anwar Pradhan moved to attach the assets in line with a court order on Thursday, said ACC spokesman Pranab Kumar Bhattacharya.

The impugned movable assets include 9.3 million shares of Roza Properties Ltd valued at Tk 930 million. He is the managing director of the company, reports bdnews24.com.

Falu also owns a 20 per cent stake in Rakin Development Company BD Ltd worth Tk 2.0 billion in the stock market.

The authorities are moving to seize his shares worth Tk 2.0 million in Roza Entertain FZE, Tk 2.94 million as director of Roza Investment LLC and the money being kept in Roza Properties’ account with IFIC Bank.

The anti-graft watchdog has also put under attachment 23 per cent of a commercial plot worth nearly Tk 500 million in the capital's Kakrail, said Pranab.

The ACC prosecuted Falu for amassing illegal wealth in a case filed on May 15, 2017. Later that year, he was implicated along with his wife Mahbuba Sultana in another case on the same charges.

The ACC approved the charges of accumulating illegal wealth of around Tk 220 million and providing false information against the couple on Jan 21 this year. A Dhaka court subsequently ordered a freeze on the couple's movable and immovable assets.