ACC flags absconding AL men selling assets via power of attorney

Those who amassed wealth through illegal means during the 15-year Awami League rule are now rushing to sell off their assets using power of attorney, according to Dr Mohammad Abdul Momen, chairman of the Anti-Corruption Commission (ACC).

"This seems to be a season of transactions. Many who are now staying abroad are issuing power of attorney to dispose of their properties in Bangladesh," Momen said at a press conference at the ACC headquarters in Segunbagicha today (16 June).

In response, the ACC plans to urge the foreign affairs ministry  to ensure that power of attorney issued from abroad are properly vetted. The commission has also asked journalists to remain alert to potential misuse of such mechanisms.

While power of attorney is a legitimate tool governed by the Power of Attorney Act, 2012, and its subsequent rules in 2015, experts warn that fugitives – many of whom have allegedly looted public money – may bypass official channels to offload their assets. The proper route for issuing power of attorney is through Bangladesh missions abroad, but not all are following it.

"Criminals do not care about legal channels," said Moidul Islam, former ACC director general (legal) and ex-senior district judge. 

"Those who are abroad are not tourists – they are absconders. And they are attempting to sell off properties without going through embassies. That's why the ACC must enhance monitoring in sub-registry offices where such sales are registered."

The developments come at a time when many high-profile individuals, such as former ministers, MPs and businessmen, now overseas, are facing allegations of corruption and money laundering. The fear among anti-graft campaigners is that the window to hold them accountable may be closing fast.

"The ACC must act now. If these assets are sold off, there will be nothing left to recover. Sub-registry offices must be placed under regular surveillance, especially for suspicious transactions," said Moidul.

The chairman of the Anti-Corruption Commission (ACC) has said that the commission will also remain vigilant on potential illegal money transfers (hundi) from Bangladesh to Awami League leaders staying in India and other countries.

"Many are staying in the neighbouring country, and surely no one is feeding them for free there. The money is, in one way or another, going from Bangladesh or they are using funds they previously took with them. That's why we need to increase our monitoring," he said.

He also stressed the need to step up surveillance in areas like Tantibazar and Gulshan, from where money is being laundered through hundi.

Saifuzzaman's seized assets in the UK worth Tk1,025cr

Former land minister Saifuzzaman Chowdhury Javed's seized assets in the United Kingdom are estimated to be worth approximately £73.15 million, equivalent to Tk1,025 crore in Bangladeshi currency, said ACC Chairman. He revealed the figures, stating that the seized properties include 343 flats and plots.

Additionally, frozen bank deposits under the former minister's name are valued at approximately £2.5 million — roughly Tk35 crore — though officials believe the actual amount may be higher.

He said that during a recent official visit to the UK, the ACC held meetings with the UK's National Crime Agency (NCA), where a preliminary list of individuals suspected of money laundering was shared.

"This cooperation enabled us to identify and move forward with the seizure of a large amount of assets owned by the former land minister," the ACC chairman said.

He added that the seizure order was issued by a Bangladeshi court on 16 October 2024, and a Mutual Legal Assistance Request (MLAR) was subsequently submitted to the UK's central authority.

He also said that Saifuzzaman has 228 flats in the United Arab Emirates and nine in the United States.

UK crime agency to train ACC on bringing back laundered money

The United Kingdom's National Crime Agency (NCA) will provide training to ACC to enhance its capacity to bring back laundered money, ACC Chairman said. "An expert from the NCA will be assigned to train our officials," he said.

He said, "Recovering laundered money is a complex process across the world. Bangladesh has limited experience in this regard. Therefore, the NCA has promised to assist us in building the ACC's capacity for this work."

He noted that alongside the ACC, other agencies are also working to bring back laundered money. Bangladesh Bank has also taken initiatives in this regard. The governor himself travelled to London and held meetings with various organisations and institutions. 

"To recover the assets, we must first establish the claim of money laundering, and that claim must be supported by a court order from our side. Only then, if the British court also issues an order, can the assets be returned to us," said the ACC chief.

Letter sent to the UK to seize assets of 2 Basundhara bosses 

The ACC has written to the United Kingdom requesting the seizure of assets belonging to Bashundhara Group Vice Chairman Safiat Sobhan and Co-Chairman Sadat Sobhan. 

ACC Chairman Abdul Momen said the letter was sent to the UK's National Crime Agency. 

In addition, the agency has also sent letters to the NCA regarding the seizure of assets of Anisuzzaman Chowdhury (Rony), brother of former land minister Saifuzzaman Chowdhury, and Mohammad Adnan Imam, former chairman of the executive committee of NRB Commercial Bank.

'If Tulip is innocent, why did she resign from UK ministerial post?'

ACC Chairman has cast doubt on the innocence of British MP Tulip Siddiq, niece of ousted prime minister Sheikh Hasina, questioning her resignation from a UK ministerial post and her lawyer's letter to the ACC amid ongoing corruption investigations.

"If Tulip claims to be innocent, why did her lawyer send a letter to the ACC? Why did she resign from her ministerial position in the UK?" he asked. He said three cases are currently ongoing against Tulip, with another under investigation.

The ACC chief also stressed that Tulip is considered a Bangladeshi citizen by the commission. 

"No matter how much she insists she is British, when we examine our documents, she appears to be Bangladeshi. Depending on the situation, she claims to be British at times and Bangladeshi at others for her own convenience. We are treating her as a Bangladeshi citizen," he said.

"In the eyes of the ACC, Tulip is an accused and an absconder," he said, adding that the commission's activities regarding Tulip are ongoing and that summonses have been sent to the proper address.

Highlighting the allegations, Abdul Momen pointed to "irregularities in the allocation of Rajuk and Gulshan plots" and discrepancies in Tulip's financial declarations.

"We reviewed her income tax returns – suddenly, her gold holdings jumped from 10 bhori to 30 bhori within one year without any change in valuation," he noted.

"We have informed her lawyer that under the provisions of our law, she must face the court here," he added.