A Dhaka court on Tuesday asked to freeze 68 bank accounts belonging to the businessman Saiful Alam and his family.
Dhaka Metropolitan Senior Special Judge Zakir Hossain Galib passed the order following a petition filed by the Anti-Corruption Commission.
The court also asked to confiscate the 16 properties for the state.
Deputy-director of ACC, Siffat Uddin, filed a petition seeking to confiscate the properties of S Alam.
Prosecutor Mahmud Hossain Jahangir stood for the ACC.
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Saiful Alam, who has been domiciled in Singapore for a number of years now, claims to have given up Bangladeshi citizenship. was singled out by Bangladesh Bank governor Ahsan Mansur as "the first person who systematically looted banks (in Bangladesh)."
In an interview with the globally influential Financial Times newspaper of London, Dr Mansur said Saiful Alam, founder and chair of S Alam Group, and his associates had “siphoned off” at least $10 billion “as a minimum” from the banking system, after taking control of banks with the help of the DGFI.
The properties asked to be confiscated include the 10-story S Alam Tower in Gulshan, a six-story building on one bigha of land in Dhanmondi, 4-story building in Dhanmondi Lake Circus, a flat in Gulshan; 7,888 acres of land in Gulshan-2, seven-story building in Uttara Residential area, 3 katha plot in Bhatara Bashundhara Residential area and immeasurable stretches of land.