Summit Group Chairman Aziz Khan, family’s shares in Luxembourg frozen

They have over €4.1 million ($4.63 million) in shares there, the ACC investigation finds

A Dhaka court has ordered the freezing of shares in Luxembourg belonging to Summit Group Chairman Aziz Khan, his family and entities associated with him following the seizure of bank accounts and land.

Dhaka Metropolitan Senior Special Judge Md Zakir Hossain Galib issued the order on Sunday following a petition filed by the ACC Deputy Director Alamgir Hossain, the anti-graft watchdog’s spokesman Akhtarul Islam said.

According to the ACC investigation, Aziz and his family own shares amounting to €4.1 million ($4.63 million) in Luxembourg. The price of each share is 91 euros.

The national graft buster says the investigation over the allegation of amassing "illicit” wealth against Summit Group and its associates through "bribery, corruption and criminal processes" is under way.

The assets were found in the name of Aziz and his associates in Luxembourg. The ACC believes it is necessary to freeze their assets for the sake of a fair investigation.

Earlier on Mar 9, the court ordered the freezing of 191 accounts of the Summit Group. These accounts contained Tk 417.47 million.

Later on Mar 11, the court ordered the seizure of 38,800 square feet of land owned by former Gopalganj-1 MP Farook Khan’s brother Aziz and his associates.

The market valuation of the land has been shown as Tk 14.6 million, while the real valuation stands at more than Tk 97 million, the anti-graft body said.