The UK's National Crime Agency (NCA) has issued freezing orders on two London properties connected to Ahmed Shayan Fazlur Rahman, the son of Salman F Rahman, a former adviser to Bangladesh’s ex-Prime Minister Sheikh Hasina. The properties, valued at £6.5 million and £1.2 million, are reportedly owned via offshore companies and are part of a broader investigation into alleged embezzlement during Hasina's rule. Both Salman and Ahmed Rahman are under investigation by Bangladesh’s Anti-Corruption Commission. The properties, one of which housed Sheikh Hasina’s sister Sheikh Rehana, are now frozen as part of a UK civil probe. Financial Times
đ Background and Investigations
The freezing of these properties is part of a wider crackdown on alleged corruption linked to Sheikh Hasina's government. Following Hasina's ousting in 2024, the interim government, led by Nobel laureate Muhammad Yunus, has been pursuing reclaimed embezzled funds internationally. This administration has banned Hasina’s Awami League party and is actively investigating and seeking to recover assets believed to have been illicitly obtained during her tenure.
𧞠Broader Implications and Calls for Action
Transparency International UK has highlighted nearly £400 million worth of UK property owned by Bangladeshi investors now under investigation for financial crimes. The investigation, conducted in collaboration with The Guardian, reveals that hundreds of UK properties were acquired by politically influential figures during Sheikh Hasina’s tenure as Prime Minister of Bangladesh. These investors include the former Land Minister, family members of an influential advisor to the former Prime Minister, and businessmen accused of money laundering.
In light of these findings, Transparency International UK urges law enforcement agencies to collaborate in investigating, freezing, and seizing assets purchased with corrupt wealth by the Bangladeshi elite. Additionally, regulators are urged to scrutinize the role of UK professionals in these transactions, with enforcement action taken against any that have failed to discharge their anti-money laundering duties.
đ§⚖️ Legal and Political Repercussions
The NCA's actions have sparked political debate in both the UK and Bangladesh. In Bangladesh, the interim government's aggressive stance against the former regime has led to accusations of political retribution. Meanwhile, in the UK, the case raises questions about the effectiveness of anti-money laundering regulations and the role of financial institutions in facilitating such transactions.
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