The once grand mansion of S Alam, the influential owner of the S Alam Group, now stands devoid of its former luxury.
The construction of a lavish bungalow on a sprawling 50-acre plot in Chattogram has come to a sudden halt.
Expensive cars have been removed, and the security personnel that once protected the property are no longer there.
On top of that, S Alam has renounced his Bangladeshi citizenship.
With these changes, former officials of the Anti-Corruption Commission (ACC) are advising the government to seize his assets in the country as soon as possible and take swift legal action.
S Alam, who had become a powerful figure close to the Sheikh Hasina government after the 2014 elections, seemed to be living the high life.
Starting out as a tin agent, his business empire expanded rapidly into various sectors, including transportation, cement, edible oil, steel, sugar refining, and even the quick rental electricity business.
In 2020, he began constructing a luxurious bungalow on 50 acres of land in Chattogram, where he planned to build seven houses—one for each of his seven brothers.
His personal house was meant to be a four-story building, with each floor covering a massive 15,000 square feet, along with a designated area for a lake.
The construction continued until early August.
A local resident recalled,
“They are building houses here. S Alam’s house is being built. There are seven of them. We don`t really keep track of what’s happening around here.”
But after the political shift following the fall of the Awami League government on August 5th, there has been no activity at S Alam’s property in Chattogram’s Sugandha Residential Area.
His house in Patiya has lost its grandeur, and in Dhaka’s Banani DOHS, two of his flats, each 3,500 square feet in size, remain vacant with their cars still parked in the garage. The family members are nowhere to be seen.
One resident from the building shared,
“They have two flats here on the 3rd floor. None of them are here anymore. There used to be a lot of people coming and going. But since August 5th, I haven’t seen anyone.”
Amid all this, former ACC Director General Mohammad Moydul Islam has suggested that the government must quickly seize S Alam’s assets in Bangladesh and begin legal proceedings. He explained,
“Once they are convicted and sentenced, these assets will be seized for the government. The government can then take control of these assets and decide what to do with them—whether that’s selling or donating them. In the end, these assets will become government property.”
The S Alam Group is facing serious allegations of embezzling and laundering money with state backing.
Over the last decade, it is accused of borrowing over Tk 2 trillion from several banks and financial institutions, including Islamic Bank.
The group has also expanded its operations under different names in various countries.
Saiful Alam, now a Singaporean citizen, has formally given up his Bangladeshi citizenship.
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