Dhaka, June 16 -- The walls are closing in on Mohammed Saiful Alam, often referred to as S Alam, the Bangladesh-born Singaporean businessman who built a sprawling, multi-billion-dollar empire stretching from Chittagong to the Mediterranean - much of it, authorities allege, on a foundation of laundered money, says a report of The Edge Malaysia.

According to the report, in the span of just two weeks in May, a court froze a luxury residential property in Cyprus he owned together with his wife, a Bangladeshi court sentenced him in absentia to five months' imprisonment, and investigators in Singapore continued probing a business empire that reportedly exceeds US$1 billion in assets in the city state alone.

Now, attention is also turning to t...