Court Orders Seizure of 1,936 Acres of Land Owned by S Alam and His Family

In a significant legal development, a Dhaka court has ordered the confiscation of 1,936.50 acres of land belonging to businessman Mohammad Saiful Alam, the influential head of the S Alam Group, along with properties held in the names of his family members and associates. The order was issued on Thursday, 11 December, following an application by the Anti-Corruption Commission (ACC) of Bangladesh.

According to the petition submitted by the ACC, investigators fear that the assets could be transferred, concealed, or otherwise dissipated before the ongoing inquiry into alleged money laundering reaches its conclusion. Such a move, the ACC argues, would make any future recovery of illicit funds “extremely difficult”. For that reason, urgent seizure of the immovable properties has been deemed necessary.

The order was passed by Md Abdullah Al Mamun, the vacation judge of the Dhaka Metropolitan Senior Special Judge’s Court, who authorised the freezing of assets valued at approximately Tk 16,940 crore 6 lakh 773.

The ACC’s public relations officer, Akhtarul Islam, confirmed the development.

Representing the Commission in court, Deputy Director Tansin Munabil Haque submitted detailed documents supporting the request for urgent action. The petition states that an investigation team has been formed to probe allegations that Saiful Alam, members of his family, and several connected individuals were involved in large-scale money laundering.

Citing initial findings, the application notes that Alam and his network allegedly obtained substantial loans from multiple banks—both in their own names and through proxy accounts—by circumventing banking regulations. These funds were then reportedly diverted for personal enrichment, enabling the acquisition of extensive assets within Bangladesh and abroad. Investigators also suggested that attempts were underway to transfer or dispose of these properties, prompting the ACC’s urgent intervention.

The ACC argued that without swift, pre-emptive asset seizure, any future attempt to recover illicitly obtained wealth could be severely compromised.

This is not the first legal setback for the business conglomerate. On 20 October, a court had already ordered the blocking of 513 crore 18 lakh 32 thousand 282 shares belonging to 105 companies owned by the S Alam Group. Earlier still, on 25 September, the court directed the issuance of an Interpol Red Notice against Saiful Alam, Group Vice Chairman Abdus Samad, and Director Mohammad Abdullah Hasan.

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