Court orders seizure of S Alam Group’s 469 acres of land

A Dhaka court on Tuesday ordered the seizure of 469 acres of land owned by S Alam Group Chairman Mohammad Saiful Alam and entities and individuals associated with him.

Dhaka Metropolitan Senior Special Judge Sabbir Faiz passed the order after Anti-Corruption Commission (ACC) Deputy Director Tahsin Munabil Haque filed the relevant petition on behalf of the ACC.

According to the ACC’s petition, the seized properties include 8.58 acres in Gazipur Sadar, 4.86 acres in Gazipur’s Sreepur, 180.28 acres in Maheshkhali of Cox’s Bazar, 2.12 acres in Cox’s Bazar Sadar, 0.9675 acres in Chakaria of Cox’s Bazar, and 272.68 acres in Chattogram.

The ACC petition stated that Mohammad Saiful Alam and his associated entities are under investigation for alleged money laundering.

The ACC sought the seizure to prevent the transfer or disposal of these assets before the investigation concludes.

ACC alleged that Alam and his associates obtained loans illegally from several banks and laundered large sums of money, using the proceeds to acquire assets in Bangladesh and abroad.

Investigators said Alam and his family were attempting to transfer or conceal properties, prompting the urgent seizure request.

This is the latest in a series of court orders targeting S Alam Group.

Earlier this year, the court ordered the seizure or freezing of shares, bank accounts and real estate worth thousands of crores of taka and also issued an Interpol Red Notice against Alam and several company officials.