UK’s National Crime Agency Freezes Assets of Saifuzzaman Chowdhury, Ex-Minister of Bangladesh

The UK’s National Crime Agency has frozen assets owned by Saifuzzaman Chowdhury, former Bangladeshi Minister of Land, amidst money laundering allegations. Chowdhury, a prominent associate of ousted Prime Minister Sheikh Hasina, reportedly owns over 350 properties in the UK. This move follows legal requests from Bangladesh authorities and coincides with the visit of interim leader Muhammad Yunus to London.

The UK’s National Crime Agency (NCA) has taken action against Saifuzzaman Chowdhury, the former Minister of Land in Bangladesh, whose assets in the UK have been frozen. This follows a legal request from Bangladeshi officials amid allegations of money laundering involving Chowdhury, who is linked to the ousted Prime Minister Sheikh Hasina and her party, the Awami League.

A spokesperson from the NCA confirmed the freezing orders were issued as part of an ongoing civil investigation. This means Chowdhury’s properties, reportedly numerous and valuable, cannot be sold while the investigation is underway. Interestingly, this move coincides with a visit from Bangladesh’s interim leader, Professor Muhammad Yunus, to London this week.

Chowdhury, aged 56, has been a focal point in an Al Jazeera investigation revealing he owns over 350 properties in the UK. Specifics about the NCA’s actions remain somewhat unclear, but it has been confirmed that his luxury residence in St John’s Wood, valued at around £11 million ($14.8 million), is included in the freeze. This property was also the site of clandestine filming by Al Jazeera reporters.

During an undercover meeting, Chowdhury elaborated on his extensive real estate investments and personal style, highlighting his affluent lifestyle including designer garments. He expressed his close personal ties with Sheikh Hasina, saying, “I am like her son, actually,” and added, “She knows I have a business here.”

Chowdhury, hailing from a powerful family in Chittagong, appears to have built a significant wealth despite the restrictive $12,000 limit on currency exchanges as per Bangladeshi law. Investigations have indicated he has spent upwards of $500 million on international properties without reporting these on his tax returns.

His rise to wealth is particularly scrutinized following Hasina’s exile in August 2024 amidst widespread protests and violence in Bangladesh. Subsequent to her departure, allegations of systemic corruption have emerged against her administration, leading to intensified investigations.

Chowdhury stated earlier that his funds are from legitimate overseas business dealings and characterized the actions against him as a politically motivated campaign. This NCA move signals an important step in international responses to financial misconduct allegations tied to foreign officials.

The UK’s National Crime Agency’s freezing of assets linked to Saifuzzaman Chowdhury underscores the growing scrutiny of overseas investments by foreign officials amidst corruption allegations. Chowdhury, a former ally of Sheikh Hasina, is under investigation for possible money laundering while also asserting his wealth stems from legitimate businesses. This significant action aligns with broader efforts to tackle corruption and illegal wealth tied to political figures, especially in the aftermath of Bangladesh’s governmental crisis.

Original Source: www.aljazeera.com