Dhaka, Oct. 31 -- A long-abandoned plot in Chattogram's Agrabad CDA residential area, unused for nearly 25 years, is now under investigation by the Anti-Corruption Commission (ACC).
The land, leased in 2004 to Modern Properties Ltd and Hasan Abashon Pvt Ltd for a residential project, was never developed. Instead, it was mortgaged to secure a bank loan under S Alam Trading, part of the S Alam Group.
During a Wednesday raid on the CDA office, ACC officials seized lease-related documents. Hamed Reza, sub-assistant director of the ACC's Chattogram office, said the firms mortgaged 18 properties, including 101.87 kathas of CDA land, to obtain a Tk1,000 crore loan from Janata Bank, while the current outstanding loan exceeds Tk1,900 crore.
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