Court issues travel bans on 14 beneficiaries of S Alam Group

A Dhaka court today issued travel bans on 14 beneficiaries of S Alam Group in connection with corruption allegations brought against them.

They are Akij Uddin, former deputy managing director of Islami Bank PLC and also personal secretary of S Alam; his wife Roksana Khatun; mother Rabeya Khatun; his sister Hasmat Ara Begum; his brothers-in-law Md Nasrul Islam, Md Nasir Uddin, two who are named Mohammad Saifuddin, and Md Golamur Rahman; ABM Mokammel Hoque Chowdhury, former managing director of Union Bank; SM Jamal Uddin, officer of First Security Islami Bank PLC; Md Jasim Uddin, business and security inspector of S Alam Group; Md Almas Ali; and Bedar Ul Islam.

Judge Md Zakir Hossain of the Metropolitan Senior Special Judge's Court in Dhaka passed the order after ACC Deputy Director Tahasin Munabil Haque, who is leading an inquiry team, submitted an application in this regard.

ACC Public Prosecutor Mahmud Hossain Jahangir moved the application on behalf of the anti-graft body.

In the application, the ACC official said a team was formed to investigate the allegations brought against S Alam Group Chairman Mohammad Saiful Alam, his family members and their beneficiaries of laundering money.

During the investigation, it was found that S Alam, his family members and beneficiaries amassed a huge amount of money in his name and the names of their family members through forged documents, corruption and irregularities and misappropriated money, and that they also laundered this wealth.

"The ACC official came to know from credible sources that they were attempting to flee the country. If they flee, inquiry into the allegations brought against them might be hampered. So, an order is needed to prevent them from doing so," said the ACC in its application.

On April 9, the same court ordered the ACC to confiscate 7,919.52 kathas of land of S Alam, his family members and their beneficiaries in connection with corruption allegations against them.

On February 23, the same court ordered the ACC to freeze 227 bank accounts with a combined balance of Tk 813.56 crore of S Alam and his family over allegations of ill-gotten wealth and money laundering.

On February 12, the same court ordered the ACC to freeze 437.85 crore shares of 42 companies belonging to S Alam and his family in connection with allegations of laundering $1 billion to Singapore and several other countries.

The value of the shares stands at Tk 5,100 crore.