Court orders to seize S Alam’s 15,915 decimal land

A Dhaka court on Wednesday ordered to seizure of 15,915 decimal lands worth Tk 4.07 billion belonging to S Alam Group Chairman Mohammad Saiful Alam and his related persons or entities.

Dhaka Metropolitan Senior Special Judge Md Zakir Hossain Galib passed the order, allowing a plea from the Anti-Corruption Commission (ACC) in the court, reports BSS.

Confirming the matter to newsmen, ACC Deputy Director (public relations) Aktarul Islam said a team has been formed to investigate the allegations of money laundering against Mohammad Saiful Alam (S. Alam) and his related entities and persons.

S Alam and his related entities and persons have acquired a huge amount of wealth in the country and abroad by taking illegal loans from various banks, he remarked.

If the said assets are transferred before the settlement of the investigation, the subsequent recovery of said assets will be difficult, he said.

Therefore, the property or the related fixed assets in the name of Mohammad Saiful Alam and people related to him need to be seized on an urgent basis, he added.