Court orders seizure of Saifuzzaman Chowdhury's 330 houses and flats in 8 countries

A Dhaka court has ordered the seizure of 330 houses, flats and apartments owned by former land minister Saifuzzaman Chowdhury in eight countries, including the United States, over allegations of amassing vast wealth through bribery, corruption and other irregularities.

The order was issued yesterday (13 January) by the court of Dhaka Metropolitan Senior Special Judge Md Sabbir Foyez following eight separate applications filed by the Anti-Corruption Commission (ACC). The court also ordered the freezing of investments in two companies in the United States.

The total value of the seized assets is estimated at Tk2,320.92 crore, according to court documents.

The other countries where the properties are located are the United Arab Emirates, the Philippines, Malaysia, Cambodia, India, Thailand and Vietnam.

In the United States, 40 houses and flats were seized, valued at $35.75 million, equivalent to Tk436.10 crore (calculated at Tk122 per dollar). Investments in two companies - ZTS Properties and Tanaeem Properties - were also frozen. Of these, Tanaeem Properties alone holds investments worth $10 million, equivalent to Tk122 crore.

In the Philippines, two flats in Manila were seized, valued at 38.49 million Philippine pesos, equivalent to Tk7.69 crore (Tk2 per peso).

In Thailand, 23 houses and flats in the capital Bangkok were seized, valued at 358.68 million Thai baht, or Tk136.29 crore (Tk3.80 per baht).

In Vietnam, 30 apartments and three flats were seized. The 30 apartments are valued at SGD 553,684 and 16.42 trillion Vietnamese dong, while the three flats are valued at $6.81 million. The total value of the Vietnamese properties stands at Tk163.85 crore.

In Malaysia, 47 houses and flats were seized, valued at 104.52 million Malaysian ringgit, equivalent to Tk313.54 crore (Tk30 per ringgit).

In Cambodia, 117 houses, flats and apartments were seized, valued at $35.48 million, or Tk432.85 crore.

In India, nine houses and flats were seized, valued at 71.42 million Indian rupees, equivalent to Tk9.64 crore (Tk1.35 per rupee).

In the United Arab Emirates, 59 houses and flats were seized, valued at 211.80 million dirhams, equivalent to Tk698.92 crore (Tk33 per dirham).

ACC Deputy Director Md Mashirur Rahman filed the applications on behalf of the commission.

According to the applications, Saifuzzaman Chowdhury acquired assets worth thousands of crores of taka through bribery, corruption and various irregularities, and laundered large sums of money abroad to acquire properties overseas. Multiple cases have already been filed against him on charges of corruption and money laundering, and extensive investigations into these allegations are currently underway.

During the investigation, various documents were recovered from the house of Osman Talukder, a neighbour of Elias Talukder, the driver of Saifuzzaman's wife, Rukmila Jaman.

The ACC said recovering the seized assets is crucial in the interest of the state.