Mohammad Saiful Alam, the chairman of the S Alam Group, and his family members have had 437 crore 85 lakh 2,00,000 shares frozen by the Dhaka Metropolitan Sessions Judge’s Court today, February 12, 2025. Approximately Tk 5,109 crore is its market value. In response to a request from the Anti-Corruption Commission (ACC), the court issued its order.
This order was issued by the court following a hearing on an application filed by the ACC to freeze the shares. Investigators are looking into claims that Mohammad Saiful Alam and his family members laundered $1 billion to Singapore, the British Virgin Islands, Cyprus, and other nations, according to the ACC.
Additionally, it was discovered that the Chairman of the S Alam Group and his family members possessed approximately 437 crore shares of various companies and firms, totaling approximately Tk 5,109 crore. It has been discovered that efforts were underway to transfer ownership of these shares.
According to the ACC investigation, in order for the government to seize the property and create justice, it is required to freeze these shares and the earnings made from them.
The court has now frozen the shares, which have been taken
