The UK’s National Crime Agency (NCA) has frozen multiple properties owned by Saifuzzaman Chowdhury, the former Minister of Land in Bangladesh. This move follows legal requests from Bangladesh authorities, who are investigating Chowdhury for money laundering.
Chowdhury is closely associated with the deposed Prime Minister Sheikh Hasina and the now-banned Awami League party.
In a statement to Al Jazeera’s Investigative Unit (I-Unit), an NCA spokesperson confirmed the asset freeze, stating, “We can confirm that the NCA has secured freezing orders against a number of properties as part of an ongoing civil investigation.” This freeze means that Chowdhury cannot sell or transfer these assets while the investigation continues.
Chowdhury, who owns over 350 properties in the UK, was exposed by Al Jazeera’s investigation last year. Among the assets affected by the freeze is his luxury home in St John’s Wood, London, bought for £11 million ($14.8 million).
The I-Unit had previously conducted an undercover investigation into Chowdhury’s wealth and properties. During a secret meeting, Chowdhury spoke at length about his global property portfolio and his close relationship with Sheikh Hasina.
The investigation revealed that Chowdhury, despite Bangladesh’s $12,000 annual limit on overseas currency exchanges, had spent over $500 million on real estate in major cities like London, Dubai, and New York. However, he did not report these assets in his tax returns in Bangladesh, raising suspicions about his financial activities.
Chowdhury’s wealth amassed during his time in government raises serious questions, especially considering the strict currency laws in Bangladesh. His lavish lifestyle, including expensive suits and luxury shoes, stood in stark contrast to his modest declared income.
He also told undercover reporters that he had close business ties with the former Prime Minister Hasina, describing himself as “like her son.”
The NCA’s freezing of Chowdhury’s properties aligns with the ongoing investigation into his assets. This action also comes as Bangladesh’s interim leader, Professor Muhammad Yunus, visits London.
After the violent protests and crackdown in Bangladesh in August 2024, which led to Hasina fleeing the country, authorities there launched a probe into corruption during her regime. Chowdhury, a member of a powerful family in Chittagong, was implicated in this investigation.
Despite claims from Chowdhury that his overseas wealth is derived from legitimate business ventures, he insists that the investigation is politically motivated. However, with the NCA’s intervention and the ongoing investigation in Bangladesh, his financial dealings continue to face scrutiny.
Saifuzzaman Chowdhury’s UK properties have been frozen by the National Crime Agency following allegations of money laundering. Chowdhury, a former Bangladesh minister with ties to Sheikh Hasina, is under investigation for corruption after spending over $500 million on global real estate. His claims of legitimate business dealings are now being challenged.
