Hasina Loyalists Sold UK Properties After Her Fall, Yunus Now Demands Probe: Report

Last Updated:July 22, 2025, 17:39 IST

Bangladesh is probing embezzlement tied to former regime families. The UK's NCA froze millions in assets, including those of Saifuzzaman Chowdhury and the Rahman family.

Yunus government urges UK to block suspect deals tied to former Bangladesh ministers. (IMAGE: REUTERS)

Following the political change in Bangladesh, authorities have opened investigations into prominent business and political families linked to the former regime. The probes focus on allegations of embezzlement and money laundering, with claims that significant sums were invested in luxury UK properties. The Crime Agency (NCA) in Britain has already acted against some high-profile individuals, according to a report by UK-based newspaper The Guardian, who first reported the development. London’s property market is under increasing scrutiny from both UK and Bangladeshi investigators.

The UK’s Crime Agency froze £90 million in assets connected to the Rahman family and over £170 million tied to former minister Saifuzzaman Chowdhury, the newspaper said in its report. Chowdhury allegedly amassed more than 300 UK properties during his tenure. These freezes are part of a broader crackdown on questionable foreign investments in London, with the NCA working closely with international partners.

The report said that several individuals under investigation sought to liquidate, transfer or refinance their UK properties after the change in Bangladesh’s political landscape. Transparency campaigners raised concerns that this could jeopardize recovery efforts. Bangladeshi authorities have requested their UK counterparts to tighten scrutiny and prevent the suspected movement of assets.

Bangladesh’s central bank governor and the Anti-Corruption Commission (ACC) have urged Britain to consider additional asset freezes to safeguard possible evidence, the Guardian said. They stressed that such actions would support due legal processes and help ensure any unlawfully acquired funds are repatriated.

The powerful Sobhan family, behind the Bashundhara conglomerate, reportedly engaged in property transfers worth millions. One Knightsbridge townhouse changed hands twice in unclear transactions, prompting questions over financial dealings. Investigators in Dhaka are probing potential money laundering links, Bangladeshi news media outlets reported. The family has denied any wrongdoing and vowed to defend themselves.

Properties associated with Saifuzzaman Chowdhury’s relatives and business contacts have seen multiple recent transactions, including sales and refinancing moves. Chowdhury’s brother, Anisuzzaman, sold a £10 million Regent’s Park property, while further dealings are under review. Allegations have also emerged about his links with a London-based developer facing scrutiny.

The NCA also froze assets tied to the Rahman family, which includes a £35 million apartment in Grosvenor Square, the report said. Members of the family are under investigation in Dhaka, and while the Rahmans reject allegations of misconduct, authorities are examining financial flows between Dhaka and London. The family has pledged to cooperate with any legal processes.

Transparency has questioned the role of UK law firms and advisers who facilitated property deals for individuals under investigation.

Concerns include inadequate source-of-wealth checks and possible failures to report suspicious transactions. Calls have grown for stricter oversight to prevent illicit funds from vanishing through London’s financial networks.

The unrest in Bangladesh leading up to the regime change was marked by months of student-led protests, sparked by economic grievances and governance concerns.

Clashes between protestors and security forces resulted in casualties, drawing global attention. While Sheikh Hasina’s departure led to a new interim setup, political tensions remain high in Bangladesh. The anti-corruption drive is part of a broader reform agenda, but some critics see it as politically sensitive, motivated by revenge of the interim government and the rivals of the Hasina regime.

London/Dhaka

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