National
2 months ago
CID launches probe into S Alam Group over Tk 1.13 trillion laundering allegations
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The Criminal Investigation Department (CID) has launched an investigation into S Alam Group and its owner, Md Saiful Alam, over allegations of laundering more than Tk 1.13 trillion ($10.6 billion) abroad.
Special Superintendent of Police Md Azad Rahman confirmed the beginning of the laundering investigation against the suspects on Saturday.
Preliminary findings indicate that Alam, his wife Farzana Parveen, his sons Ahsanul Alam and Ashraful Alam, and others were involved in organised money laundering, according to Rahman.
Since the fall of the Sheikh Hasina-led Awami League government on August 5, S Alam Group has faced numerous media reports of alleged corruption and money laundering.