Court orders seizure of ex-Land Minister Saifuzzaman’s 330 properties worldwide

A Dhaka court has ordered the seizure of 330 houses, flats and apartments owned by former land minister Saifuzzaman Chowdhury across eight countries, including the United States, over allegations of bribery, corruption and large-scale financial irregularities.

The court also ordered the freezing of his investments in two US-based companies. The total value of the seized and frozen assets is estimated at about Tk 2,320 crore 92 lakh.

Dhaka Metropolitan Senior Special Judge Md Sabbir Faez passed the order on Tuesday (January 13), following eight separate petitions filed by the Anti-Corruption Commission (ACC).

According to the court order, 40 properties owned by Saifuzzaman in the United States have been seized, valued at $35.75 million, or about Tk 4.36 billion. His investments in ZTS Properties and Taneem Properties have also been frozen, including $10 million invested in Taneem Properties.

The seizure order extends to properties in the United Arab Emirates, the Philippines, Malaysia, Cambodia, India, Thailand and Vietnam.

In the UAE, 59 houses and flats valued at about Tk 698 crore 92 lakh 90 thousand 935 hundred have been seized. In Cambodia, 117 houses, flats and apartments worth approximately Tk 432 crore 85 lakh 8 thousand 394 have been ordered seized.

Malaysian authorities are set to freeze 47 houses and flats valued at around Tk 313 crore 54 lakh 65 thousand 990, while 23 properties in Bangkok, Thailand, worth about Tk 136 crore 29 lakh 82 thousand 328 have also been listed.

In Vietnam, 33 apartments and flats valued at about Tk 163 core 85 lakh 46 thousand 771 have been seized. Two flats in Manila, the Philippine capital, valued at roughly Tk 7 core 69 lakh, and nine houses and flats in India worth about Tk 9 crore 64 lakh 19 thousand 100 are also included in the order.

ACC Deputy Director Md Moshiur Rahman filed the petitions, alleging that Saifuzzaman amassed vast wealth through bribery, corruption and abuse of power, and laundered funds abroad to build properties in multiple countries. Several corruption and money-laundering cases have been filed against him, and investigations are ongoing.

The ACC told the court that during the investigation, key documents were recovered from the residence of a neighbour of Saifuzzaman’s wife’s driver. The commission said the seizure of the assets is necessary in the national interest to ensure their eventual recovery by the state.