Court Correspondent

A court here today ordered to freeze Taka 8,133,56,72,000 bank deposits belonging to businessman S Alam and his family.

Dhaka Metropolitan Senior Special Judge Zakir Hossain Galib passed the order in response to a plea filed by Anti-Corruption Commission (ACC) Deputy Director Tahasinul Munabil Huq.

The investigation officer in the application mentioned that this money has been deposited in 227 accounts of various banks and financial institutions.

He also told the court that an investigation into the allegations of money laundering against S Alam Group Chairman Mohammad Saiful Alam is underway.

During the investigation, it was found that Saiful Alam and his associates had illegally taken loans from various banks and embezzled those, and amassed huge wealth in their own name and in the names of their family members both at home and abroad.

Based on information received from various sources, it is known that he and his family members are trying to transfer, relocate or misappropriate the movable assets.

If the mentioned assets are transferred or relocated before the investigation is completed, it will be difficult to recover the money later, said the plea.

Therefore, for the sake of legal procedures and fair judgment, the properties are needed to be frozen.

Earlier, on February 12, Dhaka Metropolitan Senior Special Judge Zakir Hossain Ghalib ordered the freezing of shares in 42 companies worth Taka 5109,67,96,260 owned by S Alam Group Chairman Mohammad Saiful Alam and his family members and all profits derived from the shares.

On January 30, Dhaka Metropolitan Senior Special Judge Zakir Hossain Ghalib's court also ordered to seize 175 bighas of land in the name of S Alam Group chairman Saiful Alam and his family. The declared value of the property is Taka 368,25,63,500.