Court orders seizure of Saifuzzaman’s assets
Staff Reporter:
A Dhaka court has ordered the seizure of six flats in Chattogram owned by former land minister Saifuzzaman Chowdhury, along with the confiscation of various equipment belonging to eight of his companies.
Dhaka Metropolitan Senior Special Judge Md Sabbir Faiz issued the order on Sunday following a petition filed by the Anti-Corruption Commission (ACC).
According to court and ACC sources, the petition was submitted by ACC Deputy Director Moshiur Rahman, seeking the seizure of Saifuzzaman’s properties and corporate assets. After reviewing the request, the court granted the order, marking another significant development in the ongoing corruption investigation against the former minister.
This latest order adds to a series of legal actions taken in recent months against Saifuzzaman and his associates. On 28 August, the same court ordered the freezing of 120 bank accounts linked to individuals associated with his business and financial interests.
Earlier, on 9 July, it had ordered the freezing of Beneficiary Owners (BO) accounts belonging to Saifuzzaman and 26 of his associates.
In March this year, the court issued several major seizure orders. On 9 March, it froze shares worth Tk 1.2 billion (Tk 120 crore) held in 23 companies registered under the names of Saifuzzaman and his family. Simultaneously, the court ordered the confiscation of 957 bighas of land connected to his assets. Days earlier, on 5 March, the court froze 29 bank accounts through which the ACC reported transactions amounting to Tk 5.26 crore.
The legal actions stem from an ACC investigation that has uncovered extensive allegations of money laundering and illegal wealth accumulation against the former minister.
According to ACC findings presented to the court, Saifuzzaman laundered thousands of crores of taka abroad, acquiring 350 houses in the United Kingdom under his and his family members’ names. The investigation also revealed the purchase of 228 houses in the United Arab Emirates, nine in the United States, and several other properties across multiple countries.
Within Bangladesh, the ACC alleges that Saifuzzaman amassed vast sums of illicit wealth through corruption and irregularities during his tenure in public office.
In a related development last year, on 7 October, the same court imposed a travel ban on Saifuzzaman and his wife Rukmila Zaman, based on an ACC submission detailing the money-laundering allegations.
The ACC continues to investigate the scope of Saifuzzaman’s financial network—both domestic and international—as part of its broader probe into corruption by former high-ranking officials.
With Sunday’s order, nearly all known movable and immovable assets under Saifuzzaman’s name and control have now been frozen, seized, or restricted by court orders, pending the outcome of the ACC’s investigation and potential criminal proceedings.