Tk 1.8 billion in assets seized from Nassa’s Nazrul

A court has ordered the state to seize the land registered under 53 different deeds

A Dhaka court has ordered the seizure of nearly 1.09 hectares (162 Katha) of land in the Purbachal’s Jolshiri Residential Project owned by Nazrul Islam Mazumder, the Nassa Group chairman and former EXIM Bank chairman.

The Anti-Corruption Commission (ACC) has shown the market value of the plots in the capital and land registered against 53 deeds at over Tk 1.8 billion.

Dhaka Metropolitan Senior Special Judge Md Sabbir Faiz also ordered the freezing of three of his bank accounts, with balances that amounted to about Tk 20.24 million on Tuesday.

The court's order came in response to the ACC's application, ACC spokesman Akhtarul Islam said.

ACC Assistant Director Shahjahan Miraj filed an application seeking the seizure of Nazrul's assets and the freezing of his bank accounts.

Nazrul, an influential figure in the banking sector during the Sheikh Hasina-led Awami League government, has been in jail since his arrest. The ACC has filed a case against him on charges of amassing Tk 7.81 billion through “abuse of power, bribery and corruption”.

In the asset seizure application, the ACC said these assets are inconsistent with Nazrul’s sources of known income, which is why the ACC has filed a case against him. During the investigation, it was learnt from sources that the accused is trying to sell or transfer his movable and immovable assets. If the illegal property is transferred, or sold before the case is settled, the state will suffer losses, the corruption watchdog said.

Therefore, an application was made to the court stating that it was necessary to seize the assets and freeze his bank accounts. Later, after the hearing, the court decided to approve both requests.