Assets of Hasina’s Associates Being Sold or Transferred in the UK Amid Dhaka Investigations

Individuals closely associated with the ousted Sheikh Hasina government are reportedly selling, mortgaging, or transferring their properties in the United Kingdom while investigations into their assets continue in Dhaka. According to records from the UK’s Land Registry, at least 20 applications for such transactions were submitted over the past year.

A joint investigation by *The Guardian* and the anti-corruption organization Transparency International revealed these findings, as reported on Saturday. In May, the UK’s National Crime Agency (NCA) seized assets worth approximately £90 million (equivalent to Tk 1,469 crore at Tk 163.32 per pound) belonging to the son and nephew of Salman F Rahman, an advisor to Hasina. Three weeks later, assets valued at around £170 million (Tk 2,776 crore) owned by former Land Minister Saifuzzaman Chowdhury were also seized. Chowdhury is accused of amassing significant wealth during Hasina’s regime, including over 300 properties in the UK.

“We are aware of attempts to sell these assets. We urge the UK government to consider seizing more properties,” said Ahsan H Mansur, Governor of Bangladesh’s central bank. He added, “Steps to halt these transactions will give us hope of recovering assets through proper processes.” Since the student-led uprising began in July last year, several Bangladeshi individuals under investigation in Dhaka are believed to have sold or transferred UK properties. These transactions raise questions about whether these individuals can operate freely in London and the accountability of UK legal and advisory firms facilitating such deals. According to *The Guardian*, at least 20 transaction applications related to properties owned by individuals under investigation in Dhaka were filed with the UK Land Registry over the past year. These documents typically indicate sales, transfers, or mortgages. Among these, properties worth around Tk 400 crore belonging to the family of Bashundhara Group’s Ahmed Akbar Sobhan Shah Alam, including a four-story townhouse in Knightsbridge, were involved in recent transactions. The purpose of these deals remains unclear. Until April last year, the townhouse was directly owned by Sayem Sobhan Anvir, the managing director of Bashundhara. The Anti-Corruption Commission (ACC) in Bangladesh is investigating Ahmed Akbar Sobhan and several family members. UK Land Registry records show two additional transaction applications involving properties owned by another Sobhan family member, including a mansion in Virginia Water, Surrey, valued at approximately Tk 130 crore. The ACC’s probe into Saifuzzaman Chowdhury has also implicated two others: his brother Anisuzzaman and a prominent British-Bangladeshi businessman whose name *The Guardian* did not disclose. Over the past year, they were involved in multiple property transactions. Four properties owned by Anisuzzaman Chowdhury, including a Georgian townhouse near Regent’s Park worth Tk 163 crore, were recently put on the market. The townhouse was sold in July last year, followed by three additional transaction applications. Anisuzzaman’s lawyers stated they believe there is no legal basis for seizing his assets and that the Regent’s Park property sale was finalized in 2023. In May, the NCA seized properties, including an apartment in Mayfair’s Grosvenor Square valued at Tk 571 crore. The United Commercial Bank (UCB) chairman in Bangladesh reportedly requested the ACC to investigate whether Saifuzzaman Chowdhury facilitated irregular loans for a London-based developer. A Bangladeshi court imposed a travel ban on this developer earlier this year, though he denies all allegations. Three additional transaction applications involve properties owned by the son and nephew of Salman F Rahman, who is currently imprisoned. The ACC is investigating Ahmed Shayan F Rahman and Ahmed Shahriar Rahman. The NCA seized their properties in May, including the Grosvenor Square apartment. British MP Jo Powell, chair of the All-Party Parliamentary Group on Anti-Corruption and Tax, emphasized the need for swift action, stating, “History shows that if assets are not seized quickly, they can be transferred during investigations.” Powell welcomed the NCA’s actions but urged for their scope to be expanded promptly. Lawyers for the Salman F Rahman family claim their clients have done no wrong and that allegations in Bangladesh are politically motivated. They expressed willingness to cooperate with any UK investigations.