Sheikh
Hasina's close associates' £400 million empire in the UK, what will happen to
it?

A
report in the British newspaper Guardian says that close associates of former
Bangladesh Prime Minister Sheikh Hasina have spent huge amounts of money to buy
property in the UK. The report names Salman F. Rahman and the Beximco Group,
Nazrul Islam Majumder and his NASA Group, and former Land Minister Saifuzzaman
Chowdhury. When Sheikh Hasina fled the country to India in August amid strong
public protests, her residence was being vandalized by protesters. She is now
in India. Earlier, during the protests, nearly 1,000 Bangladeshis were killed
and scores injured in clashes with Bangladeshi security forces. Bangladeshi
authorities believe that influential families and businessmen with links to
Sheikh Hasina's Awami League have amassed billions of pounds through illegal
means. This includes allegations of non-repayment of loans from state-owned
banks. Investigators believe that the money may have been laundered through
hundi. Money transfers through hundi are popular in South Asia. Now, according
to the new government and investigators in Bangladesh, some of this illegal
money has gone to the UK. The Guardian report states that an investigation by
The Observer and Transparency International has revealed that influential
people in Bangladesh have invested £400 million or more in the British housing
sector. This includes about 350 properties, ranging from flats to luxury homes.
Two ministers in the Sheikh Hasina government are among the influential people
and businessmen who have bought these assets in the name of UK and some
offshore companies. However, the owners of these assets say that the
allegations are politically motivated attacks on the new government in
Bangladesh. Beximco Group said in response to BBC Bangla questions that it has
been informed of the Guardian's news and that it believes that the truth will
be revealed through an impartial investigation and the real events will be
clear to everyone. Incidentally, the CID of Bangladesh has already said that
they have decided to investigate money laundering in the wake of allegations of
fraud, forgery, duty evasion, VAT evasion, under-invoicing/over-invoicing and
embezzlement of thousands of crores of taka against various institutions. The
White Paper Committee formed by the interim government to investigate
irregularities and corruption in the economy of Bangladesh, in its report
submitted to Advisor Professor Muhammad Yunus on Sunday, mentioned that an
average of $16 billion was laundered annually during the Sheikh Hasina
government. As part of the efforts to bring back the money laundered abroad,
the Central Bank's intelligence unit has taken various measures, including
freezing the bank accounts of these individuals and their family members, for
the investigation. However, TIB Executive Director Dr. Iftekharuzzaman says
that the process of bringing back the laundered money is a complex and
time-consuming matter. "Moreover, the fact that the money has been
laundered from Bangladesh must also be proven in court. However, it is hopeful
that the government has taken the initiative seriously," he said.
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