Bangladesh has launched an investigation into Singaporean billionaire Saiful Alam Masud and his family for alleged financial crimes, including money laundering. The Bangladesh Bank, Criminal Investigation Department (CID), Anti-Corruption Commission (ACC), and the Bangladesh Securities and Exchange Commission are involved in the probe.
Bangladesh -born Saiful Alam Masud's lawyers claim the billionaire is a target of a smear campaign. – Picture from s.alamgroupbd.comas a first-time user . Exclusively for Malay Mail readers: Use codeSINGAPORE, Dec 25 – Bangladesh has launched an investigation into a Singapore an billionaire over a range of financial crimes , including money laundering .
Alam is accused of using forged documents and false information to procure loans from six banks in Bangladesh. They stated that assets and accounts of the S. Alam Group have been frozen by the interim government and Bangladeshi state agencies in “an unlawful, arbitrary and discriminatory fashion”. Alam’s lawyers say their client has not been formally notified of any investigations by any of the authorities in Singapore and Bangladesh.
His brother-in -law Belal Ahmed, was appointed chairman of Social Islami Bank that same year, having previously been vice-chairman of Global Islami Bank, with his wife having occupied the same post.By September, Alam and his family no longer had any control of banks they were involved in after the central bank restructured the boards.
Money Laundering Bangladesh Singapore Billionaires Financial Crimes
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