The Anti-Corruption Commission (ACC) has filed a case against Bengal Group Chairman and former Member of Parliament Morshed Alam, accusing him and two family members of embezzling nearly Tk 3 crore through a manipulated land transaction.
ACC Director General Akhter Hossain confirmed the filing at a press briefing on Sunday, stating the case was approved by the commission.
According to the case statement, while serving as chairman of National Life Insurance Company, Morshed Alam facilitated the purchase of land in Noakhali for a company office. However, he allegedly concealed that the land was owned by Bengal Concept and Holdings Ltd.—a firm controlled by his son Saiful Alam and brother Jashim Uddin.
The ACC’s investigation found that the land`s actual market value was Tk 3.78 crore, but National Life Insurance Company paid Tk 6.65 crore—leading to a misappropriation of Tk 2.86 crore.
Morshed Alam, along with his son and brother, has been accused of abusing his position for personal gain by inflating the land price, amounting to financial misconduct.
