Court orders to freeze 125 bank accounts of S Alam group
The vacation judge of the court Ibrahim Miah passed the order following a petition submitted by the Anti-Corruption Commission
Dhaka Metropolitan Senior Special Judge today (19 December) asked the Bangladesh Bank to freeze 125 bank accounts of Mohammad Saiful Alam (S Alam), chairman of the S Alam group and his family members.
The vacation judge of the court Ibrahim Miah passed the order following a petition submitted by the Anti-Corruption Commission (ACC).
Md Abu Sayeed, deputy director (team leader) of the ACC submitted the petition to the court seeking an order to freeze all 125 accounts of Saiful Alam and his family members opened with different branches of First Security Islami Bank, PLC where they illegally earned more than Tk22.65 crore remained deposited.
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During the hearing on the petition ACC Public Prosecutor Advocate Mir Ahmmed Salam said, the huge deposit in a particular bank is unusual and suspicious.
The account holders may siphon off the money abroad at any time if the accounts are not confiscated, he said.
ACC deputy director Abu Sayeed in his petition said the ACC team came to know about 125 accounts of S Alam family during the investigation into an allegation against them of laundering $1 billion to Singapore, Virgin Islands, Cyprus and other countries.
The ACC prayed for freezing the accounts under section 14 of the Money Laundering Prevention Act, 2012.
