S Alam Group chairman Mohammad Saiful Alam. File Photo

DHAKA, Dec 11, 2025 (BSS) - The Anti-Corruption Commission (ACC) has filed five cases against various companies under S. Alam Group for misappropriating Taka 9,428.60 crore from Janata Bank through fake documents, abuse of power and money laundering.

ACC Director General Md. Akhtar Hossain disclosed the information at its regular briefing at the commission headquarters here today.

According to the ACC, the companies under S. Alam Group violated the loan terms, created unauthorized over-financed and non-funded facilities, took the loans without relevant guarantees, kept comparatively small FDRs, violated instructions by importing from their own group-affiliated companies, failed to repay the loans on time, overvalued mortgaged properties and accepted weak collateral.

Through such irregularities, they transferred, converted and misappropriated huge amounts of money.

The ACC further stated that officials of the Janata Bank PLC's corporate branch at Agrabad area in Chattogram and the bank's Head Office Credit Committee along with members of the bank's Board of Directors provided illegal assistance in the process, according to the ACC investigation.

The investigation revealed concrete evidence of misappropriation of over Tk 9,428 crore in loans taken by different companies of the S. Alam Group from the Janata Bank PLC.

The investigators found that 32 people, including a few directors of S. Alam Cold Rolled Steels Ltd, misappropriated Tk 2,297.74 crore, the highest among the listed companies. Thirty-six persons of S. Alam Refined Sugar Industries Ltd misappropriated over Tk 2,032crore, the second highest. Another 32 people of S. Alam Super Edible Oil Ltd misappropriated Tk 1,152.51 crore. Another 32 officials of S. Alam Vegetable Oil Ltd misappropriated Tk 2,003.48 crore through corruption and fraudulent acts. 

Besides, another 31 officials of S. Alam Trading Company (Pvt.) Ltd misappropriated Tk 1,942.55 crore in loans taken from Janata Bank PLC.