How a Bangladesh minister spent more than $500m on luxury property
Al Jazeera
Undercover sting reveals how the politician bought hundreds of overseas homes on a $13,000-a-year salary.
Bangladesh’s former Land Minister Saifuzzaman Chowdhury spent more than $500m on luxury real estate in London, Dubai, and New York but did not declare his overseas assets on his Bangladesh tax returns, Al Jazeera’s Investigative Unit (I-Unit) has revealed.
The I-Unit went undercover in the UK to investigate how the 55-year-old Chowdhury, from a powerful family in the port city of Chittagong, amassed a property empire despite a $12,000 annual limit as part of the nation’s currency laws on the amount a citizen can take out of Bangladesh.
Dr Shahdeen Malik, an advocate of the Supreme Court of Bangladesh, told Al Jazeera that the country’s constitution clearly states that politicians must declare their foreign assets.
Authorities in Bangladesh have frozen his bank accounts and are now investigating claims Chowdhury laundered millions of dollars into the UK.
Chowdhury had been a close ally of removed Prime Minister Sheikh Hasina who fled Bangladesh in August after hundreds were killed as security forces cracked down on student protests.
