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The Anti-Corruption Commission on Thursday filed a case against 58 people, including S Alam’s family members, Islami Bank managing director Mohammad Monirul Moula and its former chairman Ahsanul Alam, on charges of Tk 1,092 crore embezzlement through loan forgery.

Besides, the commission’s inquiry into the allegations against S Alam group chairman Mohammad Saiful Alam and the family found information of Tk 22,65,45,191 deposited to 125 accounts of S Alam and his family members in Dhaka and Chattogram. 

The Dhaka senior special judge court on Thursday ordered the seizure of the 125 bank accounts of Mohammad Saiful Alam, also known as S Alam, and his family members. 

ACC deputy director Yasin Arafat filed a case with its integrated district office in Chattogram on Thursday against the 58 people, said its director general Md Aktar Hossain. 

The case follows an inquiry that revealed top officials of Islami Bank were involved in and benefitted from the illegal loan disbursement.

According to the complaint, S Alam Group-related M/s Murad Enterprises Proprietor Golam Sarwar Chowdhury applied to Islami Bank’s Chaktai branch in Chattogram on November 29, 2021 for a loan of Tk 890 crore.

The officials of the branch recommended the loan as per the application without reviewing it and sent the proposal to the Zonal Office in Chittagong South on December 8, 2021. 

Lateron December 9, 2021, Zonal Office head executive vice-president Mohammad Yakub Ali, without any query, sent the proposal to the head office with a recommendation for the loan. 

On December 12, 2021, the proposal was placed before the Investment Committee without any query and verification, said the complaint. 

As the disbursement of the Tk 890 crore loan to the customer was predetermined, the Investment Committee also recommended the Executive Committee for final approval and the Board of Directors approved it. 

Initially, the loan application was for Tk 890 crore, but later it was increased to Tk 1,100 crore. 

S Alam Group used the loan money to repay the loans of its various businesses and embezzled the money and committed an offence under the Money Laundering Act, the complaint said.

The accused include Saiful Alam’s son and former Islami Bank chairman Ahsanul Alam, Saiful’s brothers Shohidul Alam and Md Rashedul Alam, Islami Bank managing director Mohammad Monirul Moula, its Executive Committee chairman Mohammad Selim Uddin, former vice-chairman Tanvir Ahmed, former directors Md Fasiul Alam, Kazi Shahidul Alam, Md Sirajul Karim, Jamal Mostafa Chowdhury, Md Joynal Abedin and Khurshid Ul Alam, former independent directors Mohammad Saleh Zahur and Mohammad Solaiman, director Md Kamrul Hasan, and former nominee director Syed Abu Asad.

The complaint also accused Islami Bank’s former additional managing directors Muhammad Kaiser Ali and KQM Habibullah, former deputy managing director and chief human resource officer Md Mostafizur Rahman Siddiqui, Miftah Uddin, Mohammad Ali and Mohammad Sabbir, former DMD Kazi Md Rezaul Karim, current DMD Rafiqul Islam, former SEVP and AMD Md Altaf Hossain, SEVP GM Muhammad Gias Uddin Quader, Abu Sayeed Muhammad Idris and former SEVP Mohammad Ullah, Investment Administration Department head and executive vice-president Md Farid Uddin, Cox’s Bazar branch manager Aman Ullah, former Chaktai branch manager and current FAVP Mohammad Ali Azgar, former Chaktai branch investment in-charge Khaja Mohammad Khaled, Chaktai branch head and assistant vice president Md Manzur Hasan, Chittagong South Zone head Mohammad Yakub Ali and its SEVP Mia Mohammad Barkat Ullah.

 The accused as the borrowers are M/s Murad Enterprise’s Mohammad Golam Sarwar Chowdhury, M/s. Chowdhury & Hossain Trade Link’s Mohammad Ershad Hossain Chowdhury, Bismillah Trading Corporation’s Morshedul Alam, M/s. United Super Traders’ Mohammad Golam Kibria Chowdhury, Rainbow Corporation’s Raihan Mahmud Chowdhury, Ansar Enterprise’s Ansarul Alam Chowdhury, Sonali Traders’ Shahidul Alam, Famous Trading Corporation’s Arshadur Rahman Chowdhury, M/s. Green Expose Traders’ MA Monayem, Coastline Trading House’s Ershad Uddin, Just Right Trade International’s Md Gias Uddin, Exclusive Business House’s Ferdous Ahmed Bappi, Annex Business Corner’s Anwarul Azam, Central Park Trading House’s Mohammad Manjur Alam, Jupiter Trade International’s Mohammad Mamun, Chowdhury Business House’s Mohammad Russell Chowdhury, Deluxe Trading Corporation’s Kazi Mejbah Uddin, Chemon Ispat Limited director Muha Nazrul Islam, Century Food Products Limited managing director MD Mohammad Saiful Islam, its director Md Ariful Islam Chowdhury, Global Trading Corporation managing director Mohammad Hasanuzzaman, its directors Md Rashedul Alam and Mohammad Abdus Sabur, Social Trade Centre’s Ali Zahur, and Shah Amanat Traders’ Mohammad Golam Rabbani Chowdhury.  

In another development, Dhaka Metropolitan Senior Special Judge’s Court vacation judge Mohammad Ibrahim Mia ordered a freeze on 125 bank accounts of S Alam Group owner Mohammed Saiful Alam, his wife Farzana Parveen, and nine members of his family with different branches of First Security Islami Bank PLC in Chattogram and Dhaka.

They deposited Tk 22,65,49,191 to the accounts with different branches in Chattogram’s Agrabad, Patiya, Jubilee Road and Dhaka’s Dilkusha, Kakrail and Gulshan. 

The other members are Saiful Alam’s brothers Mohammad Abudullah Hasan, Osman Goni, Abdus Samad, Rashedul Alam, Shahidul Alam, Osman’s wife, Farzana Begum, Shahidul’s wife, Miskat Ahmed; and Samad’s wife Shahana Ferdous.

The court passed the order following a petition submitted by the ACC deputy director, Abu Sayeed, said ACC Public prosecutor Mir Ahmed Ali Salam. 

The ACC official in the petition stated that during the inquiry into the allegations brought against S Alam and their family members of laundering $1 billion to Singapore, Cyprus, British Virgin Islands and other countries, they found information of Tk 22,65,45,191 deposited at 125 accounts of S Alam and the family.