An Al Jazeera investigation exposes a half-billion-dollar property empire of Saifuzzaman Chowdhury, a former land minister of Bangladesh, amassed while earning a modest government salary.

Bangladesh’s strict currency laws limit the amount citizens can transfer abroad to $12,000 annually, and ministers are prohibited from holding business directorships or profiting from private enterprises. 

Despite these restrictions, Al Jazeera's undercover team discovered that Chowdhury, a close associate of the ousted Prime Minister Sheikh Hasina, acquired over 360 luxury properties in Britain alone, valued at $250 million. His real estate ventures extended to Dubai, New York, Singapore, and Malaysia.

The former minister openly flaunted his influential connections, stating, "My father was very close to Prime Minister Sheikh Hasina, and so am I... She's my boss, and she knows about my business in Britain."

Chowdhury’s property investments surged in 2017 after he established UK-based companies, with the pace accelerating further when he became a minister in 2019. 

Following the brutal crackdown on student protests in July, Hasina fled to India, and several of her ministers, including Chowdhury, have gone into hiding. 

Bangladesh authorities have launched an investigation into allegations of money laundering involving Chowdhury, freezing his bank accounts and seizing control of his family-owned UCBL bank to safeguard depositors.

In 2023, Al Jazeera journalists posed as property investors and met Chowdhury at his $14 million London residence. He boasted about his wealth, showing off handmade crocodile shoes and custom Italian suits from London’s high-end boutiques. He also gave the reporters a tour of his home, featuring a private cinema, gym, elevator, and underground parking for his Rolls-Royce.

Chowdhury insists that his real estate was financed through legitimate businesses in the UK, UAE, and the US, claiming he is a victim of a political witch-hunt.

BDST: 1116 HRS, SEPT 18, 2024