A Dhaka court has ordered the freezing of shares valued at Tk102.85 crore belonging to former land minister Saifuzzaman Chowdhury and his 23 associated companies, as well as the seizure of 957 bighas of land in Anwara upazila of Chittagong, valued at Tk4.65 crore.
Dhaka Metropolitan Sessions Judge Jakir Hossain Galib issued the order on Sunday in response to a petition filed by the Anti-Corruption Commission (ACC).
According to court sources, ACC Deputy Director Md Mahfuj Iqbal submitted the petition requesting the freezing of shares and the seizure of assets, which was subsequently granted by the judge.
The petition for freezing the shares stated that a seven-member ACC investigation team had been formed to probe allegations of money laundering against Saifuzzaman and individuals and entities linked to him.
During the investigation, the ownership details of the companies' shares held by him and his family were obtained from the Registrar of Joint Stock Companies and Firms.
The petition for seizure stated that efforts were being made to transfer immovable properties owned by Saifuzzaman, along with those held by affiliated individuals and entities.
If these properties were not seized, there was a risk of them being transferred or misappropriated before the allegations were resolved, it added.
As a result, it was deemed essential to seize the mentioned immovable properties under the Money Laundering Prevention Act.
