1,360 Bank Accounts of S Alam Group Chief Frozen by Court

A Dhaka court on Thursday ordered the freezing of 1,360 additional bank accounts linked to S Alam Group Chairman Mohammad Saiful Alam and individuals connected to his financial interests. The accounts reportedly hold a total of Tk 2,619 crore.

Dhaka Metropolitan Senior Special Judge Md Zakir Hossain Galib issued the order following a petition from the Anti-Corruption Commission (ACC).

Confirming the development, ACC Deputy Director Akterul Islam said a joint investigation team has already been formed to probe allegations of money laundering involving Saiful Alam and his associates. The team has been tasked with submitting a detailed report on the matter.

In its petition, the ACC expressed concern that individuals tied to Saiful Alam were attempting to transfer or withdraw funds from various branches of First Security Islami Bank PLC.
"If these transactions are completed, it will be difficult to recover the funds," the plea noted, urging immediate action to freeze the accounts to prevent asset dissipation.

The move comes amid ongoing scrutiny of the financial dealings of the influential business group.