ACC uncovers large volume of documents linked to more foreign assets of Saifuzzaman
Ctg court orders issuance of Interpol ‘Red Notice’ against Saifuzzaman, his wife Rukmila
The Anti-Corruption Commission (ACC) today (21 September) unearthed more information on the foreign assets of former land minister Saifuzzaman Chowdhury Javed and seized a huge volume of documents, filling 23 sacks.
In addition to 582 assets earlier identified in the United Kingdom, the United States, the United Arab Emirates and Singapore, Saifuzzaman also owns properties in India, Thailand, Malaysia, the Philippines and Cambodia, ACC Deputy Director Aktarul Islam told TBS today.
Meanwhile, a Chattogram court yesterday ordered the issuance of an Interpol "Red Notice" against Saifuzzaman and Rukmila in connection with multiple cases of financial fraud and money laundering.
A team led by ACC Deputy Director Moshiur Rahman, who heads the task force investigating corruption allegations against Saifuzzaman, carried out the operation at around 4:15am and found the documents involving Saifuzzaman's Aramit Group from a shop in Shikalbaha union under the Karnaphuli police station in Chattogram.
Keep updated, follow The Business Standard's Google news channel
"Acting on a tip-off, we learned the documents were hidden at the house of Ilias, driver of Saifuzzaman's wife Rukmila Zaman. Sensing a raid, they shifted those to a nearby shop," Moshiur told TBS.
The documents were inventoried in 23 sacks in the presence of the acting chairman of the local union council, police officers of Karnaphuli station, and other witnesses.
The ACC said its primary investigation revealed that, apart from evidence of foreign asset acquisitions, the documents also contain records of properties purchased at home and abroad, rental income, maintenance costs and other financial details.
The anti-graft watchdog further stated that indications of money laundering through the transfer of funds abroad have been found.
Its task force on the investigation said the large volume of documents will be examined in stages, with specific information and evidence subsequently submitted to the commission.
Also read: ACC sues ex-minister Saifuzzaman, 10 others over Tk52 crore bribery allegations
Today's raid followed the arrest of two of Saifuzzaman's close aides, Abdul Aziz and Utpal Pal, on Wednesday (17 September) in the city's Double Mooring area.
Investigators said Utpal, a former assistant general manager (AGM) of Aramit PLC and the ex-minister's personal aide, allegedly managed overseas properties and coordinated fund transfers from Bangladesh to Dubai and then to the UK and other destinations.
Aziz, also an AGM of Aramit, is accused of managing properties purchased under Saifuzzaman's name.
Both men were placed on a five-day remand after being produced in court on Thursday. The ACC also seized two laptops and two mobile phones believed to contain key evidence of the laundering network.
Investigators say the probe has now widened to include new assets in Malaysia, Thailand, and India, in addition to earlier findings of properties in the United States, the United Kingdom, and Dubai.
Massive loan fraud and asset seizure
Saifuzzaman, a senior Awami League leader, served as state minister for land from 2014-2018 and as land minister from 2019-2023. Allegations of building vast overseas wealth surfaced ahead of the 2024 general election.
On 7 October 2024, a travel ban was imposed on the couple, preventing them from leaving the country.
However, according to media reports, Saifuzzaman left for London with his wife and family on 5 August 2024, shortly before the fall of the Awami League government amid a student-led uprising.
The former minister and his wife are accused of embezzling hundreds of crores of taka from United Commercial Bank (UCB) by taking loans in the name of fake companies.
On 5 March, the court ordered the freezing of 39 bank accounts under their names, containing more than Tk5.26 crore. The court also seized shares worth Tk102 crore and 315 acres of land.
On 17 April 2024, a case was filed accusing them of misappropriating Tk20 crore in fraudulent loans.
In light of the investigation, the court has ordered the seizure of their overseas assets, which include 343 properties in the UK, 228 properties in the UAE and 9 properties in the US.
On 11 June 2025, the UK's National Crime Agency froze assets linked to Saifuzzaman, valued at an estimated £73.15 million (approximately Tk1,025 crore). These include flats, plots, and shares in 10 offshore companies. At a press conference held on 16 June, ACC Chairman Mohammad Abdul Momen confirmed the figures, stating that a preliminary list of suspected money launderers, including Saifuzzaman, had been shared with UK authorities during a recent official visit.
On 4 September, the Criminal Investigation Department (CID) filed a case under the Money Laundering Prevention Act, alleging that the couple laundered approximately Tk1,200 crore to the UAE.
On 16 September, the ACC filed a case against former land minister Saifuzzaman Chowdhury and 24 others, including his wife, senior bank officials, and former United Commercial Bank (UCB) directors, over allegations of loan fraud and money laundering worth Tk21 crore.
The case, filed by Sub-Assistant Director Md Rubel Hosen with the ACC's Integrated District Office, Dhaka-1, accuses the former minister of abusing political influence and bank connections to secure fraudulent loans in the name of a shell company linked to his family business group.
On 18 September, the ACC filed a fresh case against Saifuzzaman and 10 others, alleging charges of receiving Tk52 crore in bribes, fraud, and abuse of power.
According to ACC Deputy Director Aktarul Islam, the accused colluded to commit fraud by intimidating Abdul Kadir Molla, the managing director of Thermex Group, into paying Tk52 crore as bribes. The money was then transferred and laundered abroad. The accused in this case also include Rukmila along with several executives from his business group.
So far, the ACC has traced illegal assets worth around Tk6,000 crore, both at home and abroad, linked to Saifuzzaman under various names and entities.
According to ACC records, Saifuzzaman and his wife hold significant shares in Aramit Cement PLC, Aramit PLC, Aramit Poly Boards Ltd, Aramit Lube Oil Ltd, Aramit Marble Ltd, Aramit Steel Mills Ltd, Aramit Thai Aluminum Ltd, Aramit Footwear Ltd, Aramit Steel Pipes Ltd, Aramit Metals Ltd, Aramit Alu Composite Panels, Aramit Power Ltd, Asif Super Steel Mills Ltd, Asif Synthetic Fibers Ltd, Javed Steel Mills Ltd, Nahar Metals Ltd, Chittagong Shipyard Ltd, Synthetic Resin Products (Pvt) Ltd, Vanguard Steel Ltd, Diesel Motor & Services, and four asset management firms – Ardent, Legendary, Luminous, and Prolific.
Additionally, Saifuzzaman is linked to 14 other enterprises and trading houses, including Vision Trading, Crescent Traders, Eminent Traders, Classic Trading, Model Trading, Imperial Trading, Alpha Traders, Pragati Enterprise, Moon Star Traders, Dream Enterprise, Shahadat and Brothers, Anchor Trading, and Shah Amanat Enterprise.
Interpol red notice
Acting Metropolitan Sessions Judge Md Abdur Rahman issued the Interpol "Red Notice" order following a hearing on a petition submitted by the ACC.
"We submitted the application last Thursday. After today's hearing, the court granted the request to issue a Red Notice against Saifuzzaman Chowdhury and his wife," ACC lawyer Mokarram Hossain told TBS.
ACC officials said the Red Notice will be sent to Interpol via the inspector general of police (IGP), aiming to ensure legal action against the couple regardless of their location or the placement of their assets.
