Staff Reporter:
The Anti-Corruption Commission (ACC) has launched an investigation into allegations of massive illicit wealth accumulation by Masud Alam, Managing Director of E-Learning & Earning Ltd.
The inquiry began after the fall of the Awami League government following the August 5 mass uprising.
According to ACC sources, formal letters have been sent to various government and private institutions requesting information about Masud Alam’s assets.
In addition, the ACC has secured a court order imposing a travel ban on Masud and his wife, Ayesha Siddika, to prevent them from fleeing the country during the investigation.
Masud Alam is known to be closely associated with former State Minister for Youth and Sports Zahid Ahsan Russell. A former chairman candidate under the Awami League and ex-president of the National Youth Council, Masud hails from the remote Gosairhat upazila of Shariatpur district.
Besides E-Learning & Earning Ltd., he owns multiple business ventures, and is suspected of acquiring assets disproportionate to his known income. A senior ACC official, requesting anonymity, told Kaler Kantho that letters have been sent to the Bangladesh Financial Intelligence Unit (BFIU), various banks, sub-registrar offices, and other relevant entities to gather details of his financial transactions and properties, including in his native village. However, responses to these requests are still pending.
Allegations of Favoritism and Graft
According to the ACC’s preliminary findings, Masud Alam allegedly amassed illegal wealth through abuse of power and collusion with influential political and bureaucratic figures from the former government. The complaint states that a powerful group ensured Masud’s company received the lucrative Tk 3 billion freelancing training project—part of a Tk 2.97 billion initiative by the Department of Youth Development—by manipulating the tender process.
Despite the fall of the Awami League, the new government under “July Spirit” has continued to award the same project to Masud’s company, violating tender conditions. The firm was tasked with training 28,800 individuals in freelancing, though ACC claims it was illegally favored, bypassing eligibility requirements.
The complaint also alleges that two former secretaries of the Ministry of Youth and Sports were involved in business dealings with Masud Alam, forming a self-serving nexus that manipulated state tenders for personal profit. Procurement documents show that 20 firms bid for the project, but only four were marked as responsive, with E-Learning & Earning Ltd. ultimately being awarded the contract based on technical and financial evaluations.
Travel Ban to Prevent Asset Flight
Following a petition by ACC Deputy Director Md. Saiduzzaman, Dhaka Senior Special Judge Zakir Hossain Galib issued a travel ban on Masud and his wife on Wednesday. The ACC argued that there was credible intelligence indicating undisclosed assets under their names in multiple locations in Bangladesh and abroad, and that they were attempting to transfer movable and immovable assets while planning to flee.
The commission stressed that their departure could seriously obstruct the investigation, thus necessitating immediate legal restraint on their travel.
Efforts to contact Masud Alam via phone and WhatsApp for a statement were unsuccessful. His phone was found switched off, and he did not respond to messages.
The case adds to a growing list of high-profile corruption investigations launched in the wake of the political transition, signaling what may be a new phase of anti-graft enforcement in post-Awami League Bangladesh.
