A Dhaka court on Sunday ordered the freezing of 141 bank accounts and 11 beneficiary owner (BO) accounts related to former chairman of Sonali Life Insurance Company late Mostafa Golam Quddus, his wife Fazlutunnesa, and six others over allegations of embezzling the company’s funds.

Judge Zakir Hossain Galib of Dhaka Metropolitan Senior Special Judges Court passed the order following a petition from the Anti-Corruption Commission (ACC).

The other directors whose accounts were ordered frozen include Golam Quddus’s daughters Fauzia Kamrun Tania and Tasnia Kamrun Anika, son Mostafa Kamrul Sobhan, son’s wife Shafia Sobhan Chowdhury, director Nur-e-Hafza, and former CFO and CEO of the company Mir Rashed Bin Aman.

The petition stated that members of the same family held seven key positions on the company’s board and, through mutual assistance, committed fraud, forgery, and breach of trust by creating fake contracts and illegally withdrawing more than Tk187 crore from the company over time. The funds were then transferred and laundered through various companies and bank accounts under their names, leading to the filing of the case.

Investigation revealed that the accused were attempting to transfer or dispose of movable assets under their ownership or linked to their interests. Therefore, for the sake of proper investigation, freezing these accounts was deemed necessary.

The same court also imposed a travel ban on former member of parliament for Gazipur-3, Muhammad Iqbal Hossain Sabuj, his wife Nigar Sultana Jhuma, and his brother Sakhawat Hossain, as an investigation is ongoing into graft allegations.