DE News Desk :
A Dhaka court has ordered the seizure of 563.57 acres of land in Chattogram’s Banshkhali upazila, owned by S Alam Group Chairman Mohammad Saiful Alam and his associates.
The official deed value of the seized properties stands at around Tk 1,001.76 crore.
Dhaka Metropolitan Senior Special Judge Md Zakir Hossain Galib issued the order on Sunday following a petition by the Anti-Corruption Commission (ACC).
According to the ACC, Saiful Alam and his associates allegedly secured irregular loans from multiple banks and laundered the funds to purchase assets both within Bangladesh and overseas.
The commission further noted that the accused were attempting to transfer or dispose of these assets, which could obstruct future recovery efforts.
This latest order comes days after the same court, on April 23, directed the seizure of 159.15 acres of land owned by Saiful Alam and his associates in Dhaka and Chattogram, valued at around Tk 407 crore.