This photo shows S. Alam Group Chairman Saiful Alam along with his sons Ashraful Alam and Ahsanul Alam greet former Prime Minister Sheikh Hasina with a floral bouquet at at Ganabhaban on January 8 following Awami League’s absolute victory in the 12th parliamentary elections. Photo courtesy: Barta24.
A whopping Tk1.09 lakh crore was poured into the six bank accounts held by various business entities and family members of S Alam Group chairman Md Saiful Alam.
Sources inside the National Board of Revenue (NBR) said that these accounts are now holding a balance of Tk26,000 crore.
“But these are not final figure as more banks are still submitting bank transaction details of the S Alam companies and its associates,” a NBR official said.
The said amount was deposited to the accounts of Islami Bank, EXIM Bank, Al-Arafah Islami Bank, First Security Islami Bank, National Bank, and Bangladesh Commerce Bank. Of these, five were under S Alam's control.
On August 14, the Income Tax Zone-15, under the NBR, wrote to 91 banks and non-banking financial institutions, seeking account details of S Alam, his family members, and all his associate business entities.
“The country’s revenue authority so far uncovered Tk 1,09,000 crore deposits, including loans and sales, within these accounts after the banks sent it to transaction details of S Alam linked business entities and his family members,” a senior Income Tax official told The South Asian Times, on condition of anonymity.
He also said that the process of collecting detailed information of truncation is going on.
“We also found that S Alam's family members and business entities are currently holding a balance of about Tk26,000 crore in these accounts,” he added.
Currently, the NBR, the Bangladesh Financial Intelligence Unit (BFIU), and government intelligence agencies are also investigating various financial irregularities involving the S Alam Group.
Besides, the Criminal Investigation Department (CID) of police has also launched a preliminary investigation into allegation of a massive Tk1.13 lakh crore money laundering by S Alam Group's Chairman Saiful Alam Masud and his family.
