Bangladesh Authorities Investigate Bangladesh-Born & Singapore Billionaire Saiful Alam Masud Age 64 & Family for Financial Crimes & Money Laundering Including by His Family & Businesses, $9.5 Billion Alleged to Have Laundered Through Singapore, Lawyers Deny Wrongdoings & Investigation Allegations in Media Part of Smear Campaign, Saiful Alam Masud is Founder & Chairman of Conglomerate S Alam Group, Saiful Alam Masud in Singapore Since 2009 & Received Singapore Citizenship in 2023
29th December 2024 | Hong Kong
Bangladesh authorities have been reported to be investigating Bangladesh-born & Singapore billionaire Saiful Alam Masud (Age 64) & family for financial crimes & money laundering including by his family & businesses, with $9.5 billion alleged to have been laundered through Singapore. Saiful Alam Masud lawyers have denied the wrongdoings, and call the investigation allegations in media part of a smear campaign. Saiful Alam Masud is the founder & Chairman of conglomerate S Alam Group. Saiful Alam Masud is in Singapore since 2009, received his Singapore citizenship in 2023. The Bangladesh authorities reported to be investigating are Bangladesh Bank, Criminal Investigation Department (Bangladesh), Anti-Corruption Commission and the Bangladesh Securities & Exchange Commission. S. Alam Group – Over 39 years, S. Alam Group an industrial and commercial large group in Bangladesh has been committed to self-reliance to society in different business and social segments. Since its inception the Group has been progressing and expanding business in the interest of the country’s growth by increasing employment, production, ultimately, positive contribution to the GDP and increases people’s purchasing power, corporate social contribution, saving foreign currency for the country. 1) Total Assets of the Group excluding Bank, Non-Banking Financial Institutions & Insurance at present is BDT 1,329.18 Billion (USD 13.06 Billion), 2) Total Assets of the Group including Bank, Non-Banking Financial Institutions & Insurance at present is BDT 1,671.47 Billion (USD 16.42 Billion), 3) Total Revenue excluding Bank, Non-Banking Financial Institutions & Insurance at present is BDT 545.41 Billion (USD 5.36Billion), 4) Total Revenue including Bank, Non-Banking Financial Institutions & Insurance at present is BDT 554.90 Billion (USD 5.45 Billion), 5) Major investment of the group is in real estate, 6) The group employed about 200,000 people in the country.
“ Bangladesh Authorities Investigate Bangladesh-Born & Singapore Billionaire Saiful Alam Masud Age 64 & Family for Financial Crimes & Money Laundering Including by His Family & Businesses, $9.5 Billion Alleged to Have Laundered Through Singapore, Lawyers Deny Wrongdoings & Investigation Allegations in Media Part of Smear Campaign, Saiful Alam Masud is Founder & Chairman of Conglomerate S Alam Group, Saiful Alam Masud in Singapore Since 2009 & Received Singapore Citizenship in 2023 “
Bangladesh Authorities Investigate Bangladesh-Born & Singapore Billionaire Saiful Alam Masud Age 64 & Family for Financial Crimes & Money Laundering Including by His Family & Businesses, $9.5 Billion Alleged to Have Laundered Through Singapore, Lawyers Deny Wrongdoings & Investigation Allegations in Media Part of Smear Campaign, Saiful Alam Masud is Founder & Chairman of Conglomerate S Alam Group, Saiful Alam Masud in Singapore Since 2009 & Received Singapore Citizenship in 2023
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