Luxury properties in London and Surrey, tied to some of Bangladesh’s most powerful political and business families, are now at the centre of a widening corruption investigation, The Guardian UK has reported.
Following the ousting of former prime minister Sheikh Hasina and her exile nearly a year ago, Bangladesh’s interim government is grappling with political instability and financial crisis. Amid this turmoil, Dhaka investigators are working to trace billions allegedly siphoned out of the country during Hasina’s rule — much of it funnelled into prime UK real estate.
The Guardian reports that Britain’s National Crime Agency (NCA) has already frozen £90 million in properties linked to the Rahman family, owners of the Beximco business empire, and a further £170 million tied to Saifuzzaman Chowdhury, the former land minister under Hasina’s government. Chowdhury is said to have accumulated over 300 properties in the UK, ranging from apartments to high-end townhouses.
Fresh evidence uncovered by The Guardian and Transparency International shows individuals under scrutiny in Bangladesh have recently sold, transferred, or refinanced properties worth millions in the UK despite ongoing investigations. These transactions raise questions about how easily politically exposed persons are still able to move assets in London.
“We are aware of efforts to liquidate assets and we would like the UK government to consider more freezing orders,” Bangladesh Bank governor Ahsan Mansur told The Guardian. “Such measures would give us hope of following due process to repatriate assets.”
Mohammad Abdul Momen, chair of Bangladesh’s Anti-Corruption Commission (ACC), also confirmed that further requests have been made to the NCA to freeze assets amid what he called “a flurry of post-revolutionary property market activity.”
Disclosures from the UK Land Registry show more than 20 “applications for dealing” on properties linked to figures under ACC investigation. These include sales, transfers or mortgage changes on assets owned by the Sobhan family behind Bashundhara Group, as well as relatives of Saifuzzaman Chowdhury and Salman F Rahman.
Sayem Sobhan Anvir, Bashundhara’s managing director, transferred ownership of a Knightsbridge townhouse worth £7.35 million through complex company arrangements earlier this year. Other properties in Virginia Water, Surrey, linked to the family have seen similar dealings.
The Sobhans deny all wrongdoing.
Chowdhury’s brother, Anisuzzaman, has sold a £10 million Regent’s Park townhouse and refinanced other assets since the revolution began, according to Land Registry filings. His lawyers claim these transactions were agreed before the political change in Dhaka.
Meanwhile, properties linked to Salman F Rahman’s son and nephew, including a £35 million apartment in Mayfair’s Grosvenor Square,
have already been frozen. The Rahmans deny allegations of corruption and say they will cooperate with investigations.
British MP Joe Powell, chair of the parliamentary group on corruption and tax, has urged UK authorities to act swiftly. “History tells
us assets can quickly evaporate unless steps are taken to freeze them while investigations are under way,” he said.
Transparency International has raised concerns over the role of UK law firms involved in facilitating these property deals, despite the clients being publicly named in investigations. Law firms Jaswal Johnston and Merali Beedle, both linked to property applications involving these individuals, either declined to comment or insisted they observe strict due diligence.
“Without swift action, these funds risk vanishing into the international financial system, potentially placing them beyond recovery,” Transparency International warned.