A Dhaka court on Monday ordered the freezing of more than 513 crore shares of 105 companies linked to S Alam Group Chairman Mohammad Saiful Alam, with a total estimated value exceeding Tk 8,000 crore, the Anti-Corruption Commission (ACC) said.

Senior Special Judge Sabbir Faiz of Dhaka Metropolitan Court issued the order following an application by the ACC, confirmed ACC Public Relations Officer Akhtarul Islam.

Deputy Director of the ACC, Tahsin Munabil Haque, submitted the request to freeze the assets amid ongoing investigations into alleged money laundering by Saiful Alam and associated entities.

The ACC noted that directors of joint-stock companies and related firms had reported attempts by Saiful Alam to transfer or misappropriate ownership of shares. The agency warned that moving the shares before the completion of the probe could hinder recovery of the assets.

The order was issued under Sections 10 and 14 of the Prevention of Money Laundering Act, 2012, and Section 18 of the ACC Rules, 2007.

Earlier, on September 25, the same court approved the issuance of an Interpol red notice against Saiful Alam and his two brothers. On July 9, the court had also frozen 53 bank accounts linked to Saiful Alam and related entities, containing Tk 113 crore.