A Dhaka court on Monday ordered the freezing of seven bank accounts belonging to M Shamsur Rahman, Editor-in-Chief and CEO of Independent Television, and his associates.

Dhaka Metropolitan Senior Special Judge Md Shahjahan Kabir passed the order following an application filed by the Anti-Corruption Commission (ACC).

According to the application, Salman F Rahman, former private industry and investment adviser to the prime minister and chairman of Beximco Group, and others allegedly defrauded shareholders of thousands of crores of taka through placement share manipulation and fraud.

They are also accused of using undue influence to obtain loans worth around 36,000 crore taka from different public and private banks, misappropriating the funds and laundering thousands of crores of taka abroad.

An allegation concerning Shamsur over the acquisition of assets beyond his known sources of income and money laundering abroad was subsequently tagged to the original complaint.

During the investigation, information was obtained about bank accounts held in his name. Sources indicated that they were attempting to transfer, relocate or convert these bank accounts.

The application stated that if they succeeded, all objectives of the investigation would be frustrated, including filing a case following the investigation, submitting a charge sheet to the court and, after trial and conviction, confiscating properties acquired through proceeds of crime in favour of the government as part of the sentence.

Therefore, freezing the bank accounts of Shamsur and those of his associated interests was necessary in the interest of a fair investigation and ensuring justice.