A Dhaka court has ordered steps to initiate an Interpol Red Notice for Mohammad Saiful Alam, chairman of the prominent business conglomerate S Alam Group, its vice-chairman Abdus Samad and Director Mohammad Abdullah Hasan.
The order was issued on Thursday by Dhaka Metropolitan Senior Special Judge Sabbir Foyez following an application by the Anti-Corruption Commission (ACC).
The petition was moved on behalf of the ACC by Deputy Director Tahsin Munabil Haque.
ACC Public Relations Officer Akhtarul Islam confirmed the matter.
According to the ACC application, the accused colluded to create a fictitious entity named AM Trading, through which they prepared and used forged documents.
By abusing their positions, they misappropriated Tk104.20 crore under the pretext of loans.
It was further alleged that Saiful Alam laundered or transferred the funds, amounting to Tk340 crore, for the benefit of S Alam Super Edible Oil.
The alleged offences fall under sections 409, 109, 420, 467, 468, and 471 of the Penal Code, 1860, as well as sections 4(2) and 4(3) of the Money Laundering Prevention Act, 2012.
The application also said that repeated attempts were made to detain the accused during the course of the investigation, but they remain absconding abroad.
Hence, the ACC sought enforcement of arrest warrants through the Ministry of Home Affairs by way of Interpol.
Earlier, on July 9, the court ordered the freezing of 113 bank accounts belonging to Saiful Alam, S Alam Group entities and related individuals across 53 banks, containing Tk113.09 crore.
On June 24, the court ordered the seizure of Alam’s two-storey residence in Limassol, Cyprus, an investment of $3,50,000 in Hazek International Pte Ltd in the British Virgin Islands, as well as holdings in Peacock Property Holdings and 18 other offshore companies.
Investments in six trusts under Jersey Trust Company were also seized.
On April, the court ordered the seizure of 159 acres of land valued at Tk407 crore. Earlier, on April 17, 1,360 bank accounts linked to Alam were frozen, containing Tk2,619.07 crore.
On March 10, 1,006 bighas of land were seized, followed by another 90 bighas on April 9.
On the same day, 374 bank accounts belonging to Alam’s close associates were also frozen.
On February 23, shares worth Tk8,133.56 crore were frozen.
On February 3, assets amounting to Tk368.25 crore across 175 bighas were seized.
On February 12, Tk437.85 lakh shares worth Tk5,109 crore were frozen.
Earlier, on 16 January, shares valued at Tk3,563.84 crore held by Alam and his family members were frozen.
On October 7, last year, the court also imposed a travel ban on Alam, his wife Farzana Parveen, and 12 other family members.