[🇧🇩] Everything about Hasina's misrule/Laundered Money etc.

[Saif]

Tulip denies wrongdoing after Bangladesh issues arrest warrant

Tulip Siddiq, former UK City minister and niece of ousted prime minister Sheikh Hasina, has denied any wrongdoing after an arrest warrant was issued against her in a Bangladesh corruption case, bdnews24.com reports citing Sky News. According to the news network, Tulip told journalists outside her

thefinancialexpress.com.bd

Tulip denies wrongdoing after Bangladesh issues arrest warrant
Published :
Apr 15, 2025 23:59
Updated :
Apr 15, 2025 23:59

Tulip Siddiq, former UK City minister and niece of ousted prime minister Sheikh Hasina, has denied any wrongdoing after an arrest warrant was issued against her in a Bangladesh corruption case, bdnews24.com reports citing Sky News.

According to the news network, Tulip told journalists outside her home on Monday that she is the "victim of a politically motivated smear campaign”.

A Dhaka court issued the warrant on Sunday against Tulip and 52 others.

The list also includes Hasina, her sister Sheikh Rehana, Rehana's son Radwan Mujib Siddiq Bobby, and daughter Azmina Siddique Ruponti.

The case was filed by the Anti-Corruption Commission (ACC) over irregularities in the allocation of plots in Purbachal.

Tulip’s lawyer Paul Thwaite earlier told the British news outlet on Sunday that the allegations were “completely false”.

He claimed there was “no basis at all for any charges to be made against her”.

Tulip said on Monday she had not been contacted by any Bangladeshi authorities and described the situation as a “trial by media”.

"I can't dignify this politically motivated smear campaign with any comment," she said.

Tulip also accused the authorities of attempting to "harass" her.

“There is no evidence I've done anything wrong", she said.​

 

[Saif]

Tk 21,000cr asset of Hasina family, 10 groups frozen

A joint taskforce on money laundering recovery reported on Monday that assets worth Tk 21,000 crore belonging to ousted prime minister Sheikh Hasina, her family members, and 10 major business groups, have been frozen through court orders...

www.newagebd.net

Tk 21,000cr asset of Hasina family, 10 groups frozen
Staff Correspondent 15 April, 2025, 23:17

Sheikh Hasina. | File photo

A joint taskforce on money laundering recovery reported on Monday that assets worth Tk 21,000 crore belonging to ousted prime minister Sheikh Hasina, her family members, and 10 major business groups, have been frozen through court orders following the political transition on August 5 in the past year.

The frozen assets include shares worth Tk 17,000 crore and Tk 4,000 crore in cash held in various bank accounts by these individuals and groups.

Besides, 84 people have been banned from leaving the country.

These updates were disclosed during a meeting of the inter-agency taskforce formed to recover and manage assets laundered abroad. Bangladesh Bank governor Ahsan H Mansur chaired the meeting.

The taskforce emphasised filing cases and concluding legal proceedings swiftly to facilitate the recovery process.

The discussion centered on financial irregularities and alleged money laundering involving the Sheikh Hasina family and 10 influential business groups.

The 10 business groups currently under investigation are S Alam Group, Beximco Group, Nabil Group, Summit Group, Orion Group, Gemcon Group, Nassa Group, Bashundhara Group, Sikder Group, and Aramit Group.

Besides investigating these corporations, the financial transactions of the key individuals behind them are also being scrutinised.

Many of these individuals have reportedly renounced their Bangladeshi citizenship.

The interim government has directed the authorities to consider the matter as a top priority.

In response, a joint investigation team comprising the Criminal Investigation Department of the police, the National Board of Revenue, and the Anti-Corruption Commission has launched an extensive probe.

The coordination of the investigation is being led by the Bangladesh Financial Intelligence Unit.

The BFIU, along with financial intelligence units from several other countries, has gathered extensive information as part of the ongoing investigations into money laundering and financial crimes committed by political elites and major business groups.

The information includes details of loans taken—both in their own names and through proxies—from local banks, the flow of these funds, foreign assets purchased, and deposits in overseas bank accounts. The data also covers bribes, corruption, fraud, and embezzlement.

The joint taskforce is now analysing where tax evasion occurred and where funds were illegally laundered, according to BB officials.

The ACC has already filed cases in most of these instances, and more are currently in the process.

BB officials confirmed that, out of 11 cases under probe, foreign assets have been traced in nine cases.

All of these assets are believed to have been acquired using laundered money. Courts in Bangladesh are currently issuing orders to seize these assets.

The officials said that legal proceedings should be initiated in the respective foreign jurisdictions to confiscate the properties located abroad as asset recovery would only be possible when favourable rulings would be obtained from courts in those countries.

They said that works were underway to draft a special ordinance focused on asset recovery from abroad.

Once enacted, this law will allow the government to engage third-party firms—on a commission basis—to trace and legally repatriate foreign assets acquired using the laundered money, they said.​

 

[Saif]

Assets of S Alam Group to be put on auction to realize Tk 100b default loans

The Khatunganj Branch of Islami Bank Bangladesh has decided to auction 20 acres of mortgaged land, a sugar refinery factory, ponds, farmland, and other property owned by S. Alam Group to realize its non-payment loans. According to the bank authorities, a loan taken by the S. Alam Group from Islami

thefinancialexpress.com.bd

Assets of S Alam Group to be put on auction to realize Tk 100b default loans
FE Online Desk
Published :
Apr 22, 2025 21:53
Updated :
Apr 22, 2025 22:03

The Khatunganj Branch of Islami Bank Bangladesh has decided to auction 20 acres of mortgaged land, a sugar refinery factory, ponds, farmland, and other property owned by S. Alam Group to realize its non-payment loans.

According to the bank authorities, a loan taken by the S. Alam Group from Islami Bank’s Khatunganj branch in Chattogram became non-performing, reports BSS.

S. Alam Refined Sugar Industries Limited took multiple investments from Khatunganj branch of Islami Bank since 2010. Over the period, the loan amount has grown significantly and reached around Taka 99.48 billion.

Assistant Vice President of Islami Bank Khatunganj Branch said that a case was filed with the Artha Rin Adalat after getting no response from the group despite repeated calls by the bank to make the due payments.

At long last, following the order from the concerned court, a decision was taken to put up for auction the mortgaged property of S. Alam Group, including the building of the S. Alam Refined Sugar Industries and other mortgaged properties, through advertisements in newspapers.

The interested bidders have been suggested to take part in the auction at the Khatunganj Branch on May 14 by 2:00 pm through submitting their bids at the tender box, while the tender box would be opened at 3:00 pm on that day in the presence of the bidders.

The Islami Bank has decided to auction off the mortgaged property through legal proceedings under Section 12(3) of the Artha Rin Adalat Act, 2003.

S. Alam Refined Sugar Industries is one of the major enterprises of S. Alam Group. The company’s managing director is Mohammad Saiful Alam (Masud), and its chairman is his brother, Mohammad Abdullah Hasan.

Back in 2017, S. Alam Group controversially took control of Islami Bank’s board by strategically purchasing shares and installing loyal directors.

Ignoring internal banking policies, huge loans were then issued in the names of the group’s various subsidiaries.

Following a student-led mass uprising on August 5 last year that led to the ouster of the Awami League government, the Bangladesh Bank dissolved the board of Islami Bank and formed a new interim board.

At the same time, a ban was imposed on the transfer and sale of S. Alam Group’s shares.

Through these steps, Bangladesh Bank took an active role in restoring transparency and financial discipline in the bank.​

 

[Saif]

Court authorises Interpol alert against Putul over Purbachal plot scam

A Dhaka court has approved a petition by the Anti-Corruption Commission (ACC) to issue an Interpol warrant for Saima Wazed Putul, daughter of deposed prime minister Sheikh Hasina, over corruption allegations relating to a plot allocation in Purbachal. Senior Special Judge Md Zakir Hossain Galib gr

thefinancialexpress.com.bd

Court authorises Interpol alert against Putul over Purbachal plot scam
Published :
Apr 27, 2025 23:47
Updated :
Apr 27, 2025 23:47

A Dhaka court has approved a petition by the Anti-Corruption Commission (ACC) to issue an Interpol warrant for Saima Wazed Putul, daughter of deposed prime minister Sheikh Hasina, over corruption allegations relating to a plot allocation in Purbachal.

Senior Special Judge Md Zakir Hossain Galib granted the order on Sunday after the ACC moved for permission to issue a red notice to bring Putul back to the country.

ACC lawyer Mir Ahmed Ali Salam said Putul already has an arrest warrant issued against her, reports bdnews24.com.

As she lives abroad, the ACC sought the court's permission to initiate an Interpol red notice, which has now been granted.

On Apr 10, the court issued arrest warrants against Hasina, Putul, and 16 others in the ACC case over alleged irregularities in Purbachal plot allocations.

The anti-graft watchdog’s spokesman Akhtarul Islam told bdnews24.com that there was an existing arrest warrant against Putul.

The ACC applied to have it reissued specifically for execution through Interpol, which the court approved.

“The date of May 4 was previously set for submission of a report on the execution of the warrant,” he said.

The ACC has launched six cases against Hasina and her family members, alleging abuse of power and irregularities in securing plots under Purbachal New Town Project of the Rajdhani Unnayan Kartripakkha (RAJUK).

Among these, the court accepted the charge sheet in the case against Putul and her mother Hasina, leading to the issuance of arrest warrants.

In December, 2024, the ACC began its inquiry into allegations of irregularities and corruption involving the allocation of six plots in the Purbachal project to Hasina and her family members.

Subsequently, six cases were filed in phases. The case against Putul was filed on Jan 12.

According to the case statement, Putul concealed information that she or her family members already owned houses, flats, or housing facilities within RAJUK areas in Dhaka.

Despite this, she obtained allocation of Plot No. 17 on Road No. 203 in Sector 27 of the Purbachal New Town Project.

She subsequently secured actual possession and registered the plot.

The case statement also alleges that Hasina abused her power by influencing responsible government officials.

It said the accused colluded to benefit themselves and others unlawfully by securing a plot in Putul’s name, and bribery allegations have also been raised.

Following investigation, the ACC submitted the charge sheet on Mar 10, adding two more names to the original 16 accused, bringing the total to 18.

The ACC has also submitted charge sheets in the remaining five cases.

Hasina has been named an accused in all six cases.

Other family members listed as accused include her son Sajeeb Wazed Joy, sister Sheikh Rehana, nephew Radwan Mujib Siddiq, and nieces British MP Tulip Siddiq, and Azmina Siddiq Ruponti.​

 

[Saif]

S Alam’s steel mill, power plant, oil factory auctioned

Islami Bank has put up at auction a steel mill, a power plant, an oil factory and 1,149 decimal of land of S Alam Group against the company’s defaulted loan of Tk 21.8 billion to Khatunganj corporate branch of the bank. The loan was taken against three projects. Khatunganj corporate branch of...

en.prothomalo.com

S Alam’s steel mill, power plant, oil factory auctioned
Staff Correspondent Dhaka
Published: 27 Apr 2025, 22: 30

S Alam File photo

Islami Bank has put up at auction a steel mill, a power plant, an oil factory and 1,149 decimal of land of S Alam Group against the company’s defaulted loan of Tk 21.8 billion to Khatunganj corporate branch of the bank.

The loan was taken against three projects.

Khatunganj corporate branch of the bank has auctioned the assets through a newspaper advertisement today, Sunday.

The assets are S Alam Cold Rolled Steel Mills Limited, S Alam Power Generation and S Alam Vegetable Oil factories, the advertisement, published in newspapers from Dhaka and Chattogram, said.

According to the advertisement, the Khatunganj corporate branch of the bank owes nearly Tk 21.8 billion (2,179.95 crore) to Osman Gani, managing director of S Alam Cold Rolled Steel Mills Limited; chairman Abdus Samad; directors Mohammad Saiful Alam (S Alam) and Halima Begum; independent directors Sampad Kumar Basak and Hasan Iqbal; managing director of S Alam Power Generation Mohammad Shahidul Alam, chairman Touhidul Alam, directors Mohammad Abdullah Hasan and Ekhlasur Rahman; managing director of S Alam Vegetable Oil, Mohammad Shahidul Alam and chairman Farzana Parveen as of 20 April 2025.

The assets have been put up at auction as per the section 12(3) of the Artha Rin Adalat Ain, 2003.

Earlier on 20 April, the same branch of the bank auctioned S Alam Group’s 11 acres of assets, including sugar refinery to realise a due of Tk 99.48 billion.

S Alam Group took over Islami Bank in 2017 following a political decision of the Awami League government.

Since then, the group withdrew more than Tk 1 billion from the bank as loans.

After the fall of the Awami League government, the group lost control over the bank. Those loans have now started defaulting one by one.

The bank has started putting up at auction the properties of S Alam Group to realise its money through a legal process.​

 

[Krishna with Flute]

 

[Saif]

Asset discrepancy detected in Hasina's assets, legal action pending: ACC chairman

Anti-Corruption Commission (ACC) Chairman Mohammad Abdul Momen has said former prime minister Sheikh Hasina's declared assets in her election affidavit do not match official findings, confirming that a case is being prepared against her. He said, “The ACC is investigating the corruption and

thefinancialexpress.com.bd

Asset discrepancy detected in Hasina's assets, legal action pending: ACC chairman

Published :
May 18, 2025 23:34
Updated :
May 18, 2025 23:34

Anti-Corruption Commission (ACC) Chairman Mohammad Abdul Momen has said former prime minister Sheikh Hasina's declared assets in her election affidavit do not match official findings, confirming that a case is being prepared against her.

He said, “The ACC is investigating the corruption and illegal assets of Sheikh Hasina and her family.

“In the meantime, the assets declared in Hasina’s election affidavit conflict with the ones in reality. We will proceed with the cases accordingly.”

The anti-graft watchdog chairman made these remarks as the chief guest at a public hearing held at the ACC Integrated District Office-Habiganj Moulvibazar Shilpakala Academy on Sunday.

He also said two more cases against her family are being investigated, reports bdnews24.com.

The ACC primarily focuses on state assets, individuals involved in state affairs, and cases of money laundering, he added.

Two booths were set up in the Moulvibazar court premises and Chowmuhuna for 15 days to receive complaints via public hearings.

Additionally, public awareness about the hearing was raised through miking, distribution of pamphlets, and posters in every union of Sadar Upazila.​

 

[Saif]

Laundered money goes into two sovereign funds

Attached and frozen assets of the oligarchs who "plundered people's money" during the deposed regime of Sheikh Hasina will go into two separate sovereign funds the interim government has decided to form. Bangladesh Bank Governor Dr Ahsan H Mansur Monday disclosed the decision about the modalities o

thefinancialexpress.com.bd

Crackdown on financial frauds reclaims over Tk 1.31t
Laundered money goes into two sovereign funds

FE REPORT
Published :
May 20, 2025 00:38
Updated :
May 20, 2025 00:38

Chief Adviser Professor Muhammad Yunus presides over a meeting on the progress of recovering laundered money at the State Guest House Jamuna in Dhaka on Monday. Bangladesh Bank Governor Dr. Ahsan H. Mansur was present on the occasion. — PID

Attached and frozen assets of the oligarchs who "plundered people's money" during the deposed regime of Sheikh Hasina will go into two separate sovereign funds the interim government has decided to form.

Bangladesh Bank Governor Dr Ahsan H Mansur Monday disclosed the decision about the modalities of appropriations of the stolen assets after a high- level meeting on repatriation of the laundered assets.

"Two separate funds will be created. One will be with the attached assets of those who plundered banks and another fund will be created with the assets plundered from non-banking sources," the Governor told a press briefing after the consultation.

Explaining the plan he said the bank shares of an oligarch, which have been attached or frozen by the government, would be handed over to the banks concerned so that it can use the money for its recapitalisation.

These shares will be sold to strategic investors so that the banks concerned can compensate their clients.

In this context, he mentions that the value of the attached Islamic Bank shares of S Alam Group is worth Tk 120 billion to 140 billion.

Mr Ahsan said the money plundered through non-banking corruption would be deposited in another fund and this money would be utilised for the wellbeing of the poor.

Responding to a question he said, "The entire process would be done lawfully, and if needed, the government may amend relevant rules."

The BB governor of the central bank was flanked by the Press Secretary to the Chief Adviser, Shafiqul Alam, and the head of Financial Intelligence Unit of the central bank, AFM Sahinul Islam.

To a question, he said usually four to five years are required to complete the legal procedures to bring back the siphoned-off money. "But some intermediate measures like freezing the assets could be done, and may take one year or less than one-year time."

Narrating the process, Mansur said the legal procedures must be completed in Bangladesh and then the request for mutual legal assistances (MLAs) should be sent abroad in proper way.

"We are on this process now. We are sending the request. And if we get this assistance of foreigners, we will be able to freeze the laundered assets," he told the journalists.

He said once the assets are frozen, the legal process would begin in courts abroad, which requires four to five years to complete.

The government has already communicated with many foreign institutions seeking their support in returning the laundered money to the country, he notes.

The government is sending MLAs to different countries seeking to freeze the money siphoned off from Bangladesh.

The Bangladesh Bank governor said the day's meeting discussed management of seized money deposited with different banks and seized shares of many banks and companies.

Also discussed was how the interests of the depositors could be protected as money was "looted from banks".

The central bank governor said Chief Adviser Professor Muhammad Yunus will visit the United Kingdom and he will focus the money-laundering issue during his tour, which was also discussed at the day's meeting.

Responding to a question whether his commitment that he would make sure that the money launderers could not sleep peacefully became futile as they are passing life peacefully abroad, the governor said he did not think that they are having peaceful sleep at night.

"I heard that S Alam has to appoint a law firm by paying 30 million US dollars annually. So this cannot be the sign of peaceful life for one who has to spend this much of money to defend him," Mr Mansur argues.

Responding to a question Mr Shafiqul Alam said tangible assets worth Tk 130757 crore (over 1.31 trillion) of the former Prime Minister and 10 business conglomerates has been attached so far. Besides, their foreign assets worth 164 million US dollars have been attached.

Regarding a question on Nagad, the BB Governor said according to the investigation, the company plundered Tk 26.50 billion of which Tk 6.40 billion was plundered through e-money.

A company needs to deposit one taka to create e-money worth one taka but Nagad created Tk 6.50 billion in excess of their deposit with the banking system, which is "totally illegal", he said.

He apprehends that as the previous management got back controlling authority of the company through a court verdict, they might erase the evidence related to their "corruption".

However, he mentions that the central bank has filed an appeal against the court order.

But they cannot do that much harm to the clients as the central bank has taken necessary steps to protect the interests of the Nagad clients, the chief of the regulator told the reporters.​

 

[Saif]

Bangladesh govt seizes Tk 1.76 lakh crore in looted assets

The interim government has so far attached Tk 1,75,625 crore worth of foreign and domestic assets linked to 10 influential business groups and the family of ousted prime minister Sheikh Hasina on allegations of financial crimes, including large-scale lootings.

www.newagebd.net

CORRUPTION BY 10 GROUPS, HASINA FAMILY

Bangladesh govt seizes Tk 1.76 lakh crore in looted assets
Staff Correspondent 19 May, 2025, 23:06

Sheikh Hasina. | File photo

The interim government has so far attached Tk 1,75,625 crore worth of foreign and domestic assets linked to 10 influential business groups and the family of ousted prime minister Sheikh Hasina on allegations of financial crimes, including large-scale lootings.

The asset recovery operation, led by the Bangladesh Bank and other government agencies, targets illicit wealth accumulated through embezzlement, money laundering, and abusing political influence.

The status of the recovery efforts was reviewed at a high-level meeting at the Chief Adviser’s Office on Monday, where Bangladesh Bank governor Ahsan H Mansur briefed chief adviser Professor Muhammad Yunus.

The information was later shared with journalists at a press conference at the Foreign Service Academy in Dhaka on the day.

Governor Mansur, chief adviser’s press secretary Shafiqul Alam, and Bangladesh Financial Intelligence Unit chief AFM Shahinul Islam were present at the press briefing.

According to the press secretary, the value of the attached immovable domestic assets stood at Tk 1,30,758 crore, while the foreign attachments totalled $164 million.

In addition, the frozen domestic movable assets amounted to Tk 42,614.27 crore while the foreign movable assets to $20.78 million.

One joint investigation team has been assigned to each group and the Hasina family, which identified the assets and secured court orders for attachment.

The 10 business groups under investigation are S Alam Group, Beximco Group, Nabil Group, Summit Group, Orion Group, Gemcon Group, Nassa Group, Bashundhara Group, Sikder Group, and Aramit Group.

Besides investigating these corporations, the financial transactions of the key individuals behind them are also being scrutinised. Many of these individuals have reportedly renounced their Bangladeshi citizenship, BB officials said.

In January 2025, joint investigation teams, formed with each team comprising investigators from the Criminal Investigation Department, the National Board of Revenue, and the Anti-Corruption Commission, have launched extensive probes. The coordination of the investigations is being led by the Bangladesh Financial Intelligence Unit.

The central bank governor said that the attached assets included shares in banks and listed companies, luxury properties, and large bank deposits held by individuals either facing prosecution or living abroad after having fled the country.

Mansur said that the government had decided to create a dedicated special fund with the recovered money to compensate depositors and assist low-income communities affected by systemic banking failures.

Initiated under a directive from the chief adviser, the fund will be used to stabilise distressed banks and finance social welfare programmes, he said.

He confirmed that substantial sums were already under governemnt control, including bank deposits and equity shares seized from absconders.

The central bank is working with international partners through mutual legal assistance treaties to recover assets laundered abroad.

Mansur noted that while the legal process typically spans four to five years, several foreign governments have expressed willingness to cooperate.

He added that the chief adviser’s upcoming visit to London may involve steps to advance overseas asset recovery.

Mansur said that funds recovered from embezzled bank loans will be returned directly to the affected banks to address capital and provisioning shortfalls.

Assets recovered from other forms of corruption will be used for poverty alleviation.

He emphasised that all measures will follow legal and regulatory frameworks.

Since the control over the attached assets has already been secured, the process of operationalising the funds is expected to move quickly, Mansur said.

The central bank is also finalising preparations to implement the Bank Resolution Ordinance 2025, which authorises the Bangladesh Bank to enforce compulsory mergers, liquidations, and the creation of bridge banks to restore stability in failing financial institutions.

During the briefing, Mansur also accused the mobile financial service provider Nagad of illegally creating Tk 650 crore in unbacked e-money, calling the action financial fraud.

He stated that under the existing monetary law, all e-money must be fully backed by deposits. Nagad’s over-issuance has violated this rule and, according to him, warrants legal punishment.​

 

[Saif]

ACC wants steps against Hasina over ‘false declaration’

The Anti-Corruption Commission (ACC) has called on the Election Commission (EC) to take legal steps against deposed prime minister Sheikh Hasina for allegedly concealing information about her assets in the affidavit filed against her during the 9th national elections. On Thursday, ACC Chairman Moh

thefinancialexpress.com.bd

ACC wants steps against Hasina over ‘false declaration’
Published :
May 22, 2025 20:41
Updated :
May 22, 2025 20:41

The Anti-Corruption Commission (ACC) has called on the Election Commission (EC) to take legal steps against deposed prime minister Sheikh Hasina for allegedly concealing information about her assets in the affidavit filed against her during the 9th national elections.

On Thursday, ACC Chairman Mohammad Abdul Momen said legal actions have been requested against Hasina under the Representation of the People Order, 1972, bdnews24.com reports.

Citing the verification of her asset declaration to the anti-graft watchdog, he said the letter also mentioned that she had shown 2.63 hectares of agricultural land priced at Tk 1.75 million in the affidavit filed before the Dec 29, 2008, elections.

However, the ACC found Hasina has 11.5 hectares of agricultural land in her name, of which the total cost of the land purchased is Tk 3.36 million.

In another allegation, the letter mentions Hasina, using the then Magura-1 MP Mohammad Sirajul Akbar's “duty-free quota”, imported a Mercedes Benz worth £230,000, he added.

“A total of Tk 19.32 million was paid from the bank against the letter of credit (LC).

“The car was registered to her Dhanmondi residence, Sudha Sadan, and she used it.”

However, no information about the car was found in Sirajul’s income tax return or the affidavit filed with the EC before the 9th national elections, and it is known that he never “used” it.

The Awami League government fell in the face of student-led mass uprising on Aug 5, 2024, and Hasina fled to India that day.

Since then, the anti-graft agency filed several cases against the former premier and her family members.

Cases have also been filed against her on charges of “murder” and “attempted murder”.​