Dhaka: A Dhaka court has ordered the seizure of 159.15 acres of land owned by S Alam Group Chairman Mohammad Saiful Alam and his associate. The order was issued on Wednesday (April 23) by Dhaka Metropolitan Senior Special Judge Md. Zakir Hossain Galib, following a petition by the Anti-Corruption Commission (ACC).
According to the ACC's petition, Mohammad Saiful Alam and his associates allegedly misappropriated loans from various banks under false identities and used the funds to acquire substantial assets both domestically and internationally. The petition also states that they were attempting to transfer or conceal their immovable properties, necessitating the court's intervention.
The 159.15 acres of seized land, located in Dhaka and Chattogram, has a current market value of BDT 407 crore, according to the ACC.
Earlier, on April 17, the court ordered the freezing of 1,360 bank accounts linked to Saiful Alam and his associates, containing BDT 2,619 crore. Additionally, on October 7, the court issued a travel ban on Saiful Alam and 12 of his family members.
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