Calls for Expanded Asset Freezes as Awami-Era Figures Under Probe Move Millions in London Real Estate
A growing trail of suspicious property transactions in the United Kingdom has cast renewed scrutiny on prominent Bangladeshi figures linked to the now-toppled Awami League government. According to an investigative report by The Guardian in collaboration with Transparency International, several individuals currently under money laundering investigation in Dhaka have either sold, transferred, or refinanced luxury properties in London since the July Uprising of 2024, which led to the ouster of Sheikh Hasina’s regime.
Frozen Fortunes and a Widening Net
In a significant move, the UK’s National Crime Agency (NCA) froze £90 million worth of properties in May linked to the family of Salman F Rahman, the former private industry adviser to Prime Minister Hasina. Just a month later, in June, over £170 million in assets, including more than 300 UK-based properties, tied to Saifuzzaman Chowdhury, the former land minister, were also frozen. Both actions came amid mounting pressure from the Bangladeshi interim government and rising concerns about illicit financial flows during Hasina’s 15-year rule.
The Anti-Corruption Commission (ACC) of Bangladesh, in coordination with the central bank and foreign agencies, has since requested further freezing of overseas assets, particularly in the UK, citing active efforts by suspects to liquidate or obscure their holdings.
The Bashundhara Link: Complex Web of Transfers
One of the most notable names in the report is the Sobhan family, owners of the influential Bashundhara Group. At least three property transactions—worth £24.5 million—linked to them have been registered with the UK Land Registry over the past year.
A prime example is a four-storey townhouse in Knightsbridge, which was owned by Sayem Sobhan Anvir, the managing director of Bashundhara. Initially held through a UAE-based entity, the property was reportedly transferred—without clear monetary exchange—to Brookview Heights Ltd, a UK company connected to Orbis London, a real estate firm with operations in Liechtenstein and Singapore. Shortly after, the property changed hands again for £7.35 million, this time to a newly formed company with a shadowy profile.
Further, UK legal documents show attempts to alter ownership or mortgages on two more properties owned by Shafiat Sobhan, including an £8 million mansion in Virginia Water, Surrey.
The Guardian report suggests that the ACC has formally requested the NCA to consider freezing these assets as part of an ongoing money laundering probe. The Sobhan family has denied all allegations and stated that they would “robustly defend” themselves.
A New Anti-Corruption Drive – Or Political Score-Settling?
While many hail this asset-recovery effort as a long-overdue anti-corruption campaign, critics warn it risks becoming a politically motivated witch-hunt if not grounded in transparent due process. The fact that many of the individuals under scrutiny held top positions in Hasina’s inner circle—at a time when democratic institutions were systematically weakened—adds political weight to the investigations.
Nevertheless, both Ahsan Mansur, the current governor of Bangladesh Bank, and Mohammad Abdul Momen, chair of the ACC, have emphasized the need for greater cooperation with the UK. They are calling for preemptive freezes to prevent the rapid liquidation of tainted assets.
“We are aware of efforts to liquidate assets, and we would like the UK government to consider more freezing orders,” said Mansur.
“Such measures give us hope of following due process to repatriate these assets,” he added.
London: Safe Haven for the Illicitly Rich?
The revelations also put a spotlight on the due diligence—or lack thereof—by UK law firms and consultants. Investigators question how individuals under official investigation in Dhaka continued to transact millions through London’s high-end property market, often via offshore entities and shadow directors with no clear digital footprint.
Disclosures from the UK Land Registry show at least 20 applications for property transactions tied to Bangladeshi figures under investigation have been filed in the past year alone. These include sales, mortgage changes, and ownership transfers.
The interim Bangladeshi government, led by Premier Muhammad Yunus, is actively engaging UK officials to ensure the London real estate sector does not become a safe haven for illicit wealth siphoned from public coffers.
Conclusion: What Comes Next?
As Bangladesh navigates its post-revolutionary transition, the fate of these foreign assets may serve as a litmus test for the seriousness of the interim government’s anti-corruption drive. Whether these cases lead to asset repatriation or are mired in legal and diplomatic complications will depend largely on UK-Bangladesh cooperation, transparency of due process, and continued pressure from civil society.
For now, the marble halls of Knightsbridge and Mayfair remain silent witnesses to a decade of alleged looting—now facing legal reckoning under the scrutiny of two nations.
