Lengthy legal road ahead to repatriate Saifuzzaman's wealth from UK
Experts say cooperation of UK govt will be essential at every step
The UK's seizure of £185 million in assets linked to former land minister and a key Awami League leader Saifuzzaman Chowdhury Javed marks a symbolic breakthrough in the interim government's anti-money laundering drive.
However, experts say the path to bringing the funds back to Bangladesh will be long, complex, and fraught with legal hurdles across multiple jurisdictions.
Officials close to the matter have confirmed that an Anti-Corruption Commission's (ACC) inquiry against Saifuzzaman is nearing its end, and a formal case will soon be lodged.
A Dhaka court order will then be needed to freeze the properties, which will form the basis for requesting international cooperation under the Mutual Legal Assistance framework.
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This process requires Bangladesh to initiate a separate civil proceeding in a UK court, where it must establish ownership and justify that the assets were acquired through illicit means.
Once this is proven, the court can then issue a forfeiture order. A second case must then be pursued to obtain permission to sell the assets and send the proceeds back to Bangladesh.
This multi-tiered process could take years, experts say.
In the meantime, the seized properties cannot be sold or transferred until the legal process concludes in both jurisdictions.
Transparency International Bangladesh (TIB) Executive Director Iftekharuzzaman said while the UK's seizure is encouraging, it does not in itself prove the illegality of the assets.
"To establish that these are proceeds of crime, Bangladesh must present concrete evidence in court that the funds used to purchase the properties were laundered from Bangladesh," said Iftekharuzzaman, who is closely observing the developments.
Only after a Bangladeshi court confirms the assets as illicitly obtained can the legal team submit an official request to the UK government under mutual legal assistance, he added.
"Then a UK court must independently assess the evidence and, if convinced, allow the assets to be confiscated. A subsequent case would be required to authorise the sale and return of the funds to Bangladesh," he said.
Iftekharuzzaman said the UK's support is crucial in this process. Bangladesh, he said, is currently working to appoint globally reputed legal firms to represent its interests in UK courts.
"But Bangladesh must be cautious while selecting these firms. Many of them are known to have previously helped launder money, so thorough vetting is essential," he added.
According to a Financial Times report, Britain's National Crime Agency (NCA) has frozen more than 300 UK properties worth about £185 million linked to Saifuzzaman.
The NCA said on Thursday (12 June) that it had frozen 342 properties with a combined purchase price of roughly £185 million, including a luxury mansion in London worth £11 million, after it was granted orders by the High Court in London on 5 June.
According to Bloomberg, the Saifuzzaman couple owns properties worth nearly £200 million in the UK and US. An earlier Al Jazeera documentary claimed he owns over 350 properties in the UK alone, and has spent over $500 million in real estate ventures in London, Dubai, and New York.
This follows a similar move in May when the NCA froze nine properties belonging to Ahmed Shayan F Rahman and Ahmed Shahriar Rahman – son and nephew of Hasina's adviser Salman F Rahman. Those properties are reportedly worth £110 million (around Tk1,480 crore).
'ACC must act more swiftly'
Despite growing international interest, Bangladesh has limited experience in recovering laundered funds. The only notable success was the repatriation of Tk21 crore from Singapore, linked to Arafat Rahman Koko, younger son of BNP Chairperson Khaleda Zia.
TIB's Iftekharuzzaman said Singapore had willingly cooperated in that case, which greatly eased the recovery process.
"In contrast, recovering funds from the UK is expected to be much more challenging. Although the UK has frozen the properties, actual recovery will depend on successful prosecutions and well-coordinated international legal actions," he said.
Former ACC director general and ex-senior district judge Moidul Islam explained that the ACC has already obtained a freezing order from a Dhaka court on 17 October last year to prevent Saifuzzaman from transferring the assets.
The order includes the seizure of 580 immovable assets owned by Saifuzzaman and his family in Bangladesh and abroad, including 343 properties in the UK, 228 in the UAE, and 9 in the US. Two UAE bank accounts and one in Bangladesh were also ordered to be frozen.
A separate ACC case filed in April 2025 accused Saifuzzaman and his wife, former UCB chairperson Rukhmila Zaman, of defrauding Tk20 crore through a fake company to secure loans.
"Following this, the order was sent through the Ministry of Foreign Affairs to the UK as part of the MLA request. That's why the NCA took action," said Moidul Islam.
However, he pointed out that actual confiscation of the assets can only occur after a full trial and court order in Bangladesh.
"The ACC must now file the money laundering case, complete the investigation, and submit a charge sheet. If the court finds that Saifuzzaman or any other accused laundered money to acquire these properties, it can then issue a final forfeiture order," he said.
He also urged the ACC to act more swiftly. "The ACC has already taken over nine months in its inquiry, although under its own rules, investigations must be completed within 270 days. Now that the UK has taken action, there is no excuse for delay."
The ACC has also sent Mutual Legal Assistance Requests (MLARs) to the US, UAE, and Singapore seeking financial records and information on properties allegedly owned by Saifuzzaman and his family. The ACC has also asked for documentation of asset purchases, ownership structures, and related financial flows.
Wider investigations
Central bank Governor Ahsan H Mansur, ACC Chairman Mohammad Abdul Momen, and Chief Adviser Muhammad Yunus are currently on a high-level visit to the UK, where recovering stolen assets is reportedly a top priority on their agenda.
The interim government has prioritised 11 key asset recovery cases. According to sources, Saifuzzaman's case ranks second on that list, just after that of Hasina. S Alam is third, followed by Salman F Rahman's interests, including his conglomerate Beximco.
To enhance legal preparedness, Bangladesh Bank is planning to hire global forensic and legal firms with expertise in asset recovery. These firms will assist in preparing legal documentation, representing Bangladesh in international courts, and tracking financial flows.
The Bangladeshi authorities are also keen to ensure that other high-profile cases – such as those involving Bashundhara Group, Summit Group, and Nafis Sarafat – do not stall.
Although local courts have issued orders to seize overseas assets linked to these entities, foreign jurisdictions have yet to act on them.
