News Flash
DHAKA, July 10, 2025 (BSS) - A court here today ordered to freeze investments, bank accounts, and insurance policies in various financial institutions in Singapore under the names of S Alam Group’s chairman Saiful Alam, his wife and their children.
Dhaka Metropolitan Senior Special Judge Md. Zakir Hossain Galib passed the order following a petition by the Anti-Corruption Commission (ACC), said Tanzeel Ahmed, Assistant Director of the ACC's Public Relations Department.
The freeze order includes a total of 40 bank accounts and multiple insurance policies in Singaporean financial institutions under the name of Saiful Alam and four more bank accounts of his wife.
Additionally, Saiful Alam and his wife jointly invested approximately 6.8 crore Singaporean dollars in two institutions. Saiful Alam is also a director and shareholder in four companies, while his wife holds the same positions in another four companies.
Their son, Ashraful Alam, has investments and accounts in two financial institutions, and is a director and shareholder in one company.
Another son, Ahsanul Alam, holds the position of director and shareholder in one company and maintains eight bank accounts and insurance policies in various financial institutions.
Besides, another family member, Ahmed Belal, has two bank accounts, and daughter Maimuna Alam holds one insurance policy and metal assets worth 54,400 Singaporean dollars in Singapore.
The youngest son, Asadul Alam Mahir, holds one additional bank account.
The ACC mentioned in its petition that the accused family acquired these assets by laundering money earned through criminal activities.
The commission requested a freeze and seizure order from the court to prevent the transfer or disposal of these assets. The court accepted the petition and issued the order accordingly.
