HC wants update of probe into money laundering allegations against S Alam by Sept 29
The High Court today sought to know updated information about the probe into money laundering allegations against S Alam Group.
The court asked the Anti-Corruption Commission (ACC) lawyer Shaheen Ahmed to place the information before it on September 29.
The HC bench of Justice Md Kamrul Hossain Mollah and Justice Kazi Zinat Hoque passed the order during the hearing of a writ petition that sought its order on the authorities concerned to attach all immoveable properties owned by S Alam Group, its shareholder directors and their family members and to impose restrictions on transfer or sale of those properties.
The bench set next Sunday for resuming the hearing.
Supreme Court lawyer Barrister Md Rukunuzzaman submitted the writ petition as a public interest litigation on September 17, also requesting the court to direct Bangladesh Bank to provide information regarding total credit facilities availed by S Alam Group, its shareholder directors and other business concerns from financial institutions or banks, along with information on the present status of outstanding liabilities and to bring laundered money back to Bangladesh from abroad.
In the petition, he urged the HC to ask the Anti-Corruption Commission to hold an inquiry into the allegations of S Alam Group and its associated companies siphoning huge amounts of money to foreign countries.
The lawyer also requested the court to direct the Bangladesh Securities and Exchange Commission (BSEC) to impose restrictions on transferring or handing over shares belonging to S Alam Group, its shareholder directors and their family members.
Lawyer Rukunuzzaman said in the petition that S Alam Group has reportedly laundered a huge amount of money availed from the financial institutions of Bangladesh to Singapore, Cyprus and other foreign countries using various unethical mechanisms and massive irregularities.
Therefore, it has become necessary to take immediate appropriate steps by the authorities concerned to bring back or repatriate the funds to Bangladesh for the best interest of the country.
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