by 
Dhaka, April 27, 2025
A Dhaka court has ordered the seizure of 563.57 acres of land in Banshkhali, Chattogram, owned by Mohammad Saiful Alam, chairman of the controversial S Alam Group, and his associates. The documented value of the seized land is Tk 1,076.8 million (over Tk 1,000 crore).
The order was issued on Sunday, April 27, 2025, by Dhaka Metropolitan Senior Special Judge Md. Zakir Hossain Galib, following an application by the Anti-Corruption Commission (ACC).
According to the ACC’s application, Saiful Alam and his associates allegedly acquired vast assets, both domestically and internationally, by misappropriating loans obtained irregularly from various banks under their names or benami (proxy) entities. The application further stated that Alam and his family members are attempting to transfer or dispose of these immovable properties. The ACC argued that seizing the assets is necessary to prevent their transfer before the investigation is complete, as recovering the misappropriated funds would become challenging otherwise.
Earlier, on April 23, a Dhaka court ordered the seizure of 159.15 acres of land owned by Saiful Alam and his associates in Dhaka and Chattogram, with a current market value of Tk 407 crore, as per the investigating officer’s submission.
AI/MR
