Saifuzzaman Chowdhury, a former Bangladeshi minister, is being investigated for amassing over 480 properties worldwide while earning a modest salary of $13,000 annually. His real estate assets, largely obtained during his political tenure, include major holdings in the UK, Dubai, and the US. Chowdhury claims his wealth stems from legitimate businesses, while authorities probe allegations of corruption and money laundering.
Saifuzzaman Chowdhury, a former minister from the government of ousted Prime Minister Sheikh Hasina, has come under scrutiny for amassing over 480 properties worldwide, despite earning an annual salary of only $13,000. His extensive real estate portfolio includes over 300 properties in the United Kingdom, 142 in Dubai, and 15 to 25 in the United States, as reported by the Financial Times.
Chowdhury served as the Minister for Land under Sheikh Hasina, who recently fled Bangladesh amid violence against student protests. Chowdhury also left the country in August, and his declared assets appeared minimal, totaling only $2.3 million in 2023, with no foreign income reported since his last tax return in 2017.
His property investments intensified in 2017 when he established companies in the UK, escalating further after he became a government minister in 2019. Key properties held by Chowdhury include luxurious locations within Dubai’s Burj Khalifa district, the Palm Jumeirah archipelago, and various commuter towns in London, as well as assets in Singapore and Malaysia.
An undercover operation by Al Jazeera revealed insights into Chowdhury’s $14 million residence in London, where he asserted that his overseas investments were financed by legitimate business operations he has owned for years. He characterized himself as a target of political persecution and defended his wealth as stemming from lawful business dealings in the UK, UAE, and the US.
Chowdhury stated, “My father was very close to the Prime Minister (Sheikh Hasina), actually, and I am also… She is my boss… She knows I have a business here (in Britain).” Reputable financial institutions affirm that his funding derives from lawful enterprises, not illicit sources in Bangladesh.
As the current interim government initiated an investigation into allegations of systemic corruption within Hasina’s administration, authorities in Bangladesh have frozen Chowdhury’s and his family’s bank accounts. The Anti-Corruption Commission is particularly focused on claims regarding his unlawful acquisition of significant funds and money laundering in the UK.
In conclusion, Saifuzzaman Chowdhury’s remarkable accumulation of international properties raises serious questions regarding the legitimacy of his wealth, especially in light of his modest official salary. With ongoing investigations into his financial dealings and the broader context of government corruption in Bangladesh, the unfolding situation bears close scrutiny. The responses from Chowdhury and associated financial entities aim to present his investments as legitimate but face skepticism amid allegations of misconduct.
Original Source: www.news18.com
