Confiscate S Alam’s 7,919 kathas of land

A Dhaka court yesterday ordered the Anti-Corruption Commission to confiscate 7,919.52 kathas of land of S Alam Group Chairman Mohammad Saiful Alam, his family members and their beneficiaries in connection with corruption allegations against them.

The properties are in Chattogram and they have a market value of around Tk 325.19 crore.

Judge Md Zakir Hossain of the Metropolitan Senior Special Judge's Court in Dhaka passed the order after ACC Deputy Director Tahasina Munabil Haque, who is leading an inquiry team, submitted an application in this regard.

"S Alam and others were attempting to transfer the properties elsewhere," said the ACC official.

On February 23, the same court ordered the ACC to freeze 227 bank accounts with a combined balance of Tk 813.56 crore of S Alam and his family over allegations of ill-gotten wealth and money laundering.

On February 12, the same court ordered the ACC to freeze 437.85 crore shares of 42 companies belonging to Alam and his family in connection with allegations of laundering $1 billion to Singapore and several other countries.

The value of the shares stands at Tk 5,100 crore.

On January 30, the court ordered the confiscation of 58 acres of land worth Tk 368 crore belonging to Alam and his family members.

On January 16, the court ordered the freezing of more than 32.1 crore shares in 24 companies owned by S Alam and his family members. The value of the shares stands at Tk 350 crore.

On January 14, the same court ordered the confiscation of immovable properties worth Tk 200 crore and the freezing of 87 bank accounts of Alam, his wife Farzana Parveen and 16 of his family members in connection with the allegations brought against them.

ACC Public Prosecutor Ruhul Islam Khan moved the application on behalf of the anti-graft body.