Investigation Reveals Real Estate Empire of Former Bangladeshi Minister
An explosive investigation by Al Jazeera English has uncovered the extravagant lifestyle of Saifuzzaman Chowdhury, a former lands minister in Bangladesh, who has amassed a staggering real estate empire worth half a billion dollars. Despite earning a modest salary, Chowdhury has acquired over 360 luxury properties across the globe, including a $250 million portfolio in Britain alone. The investigation raises serious questions about the source of his wealth, particularly in light of Bangladesh's strict currency laws that limit citizens to earnings of just $12,000 a year.
The undercover investigation involved Al Jazeera journalists posing as property investors, which led them to Chowdhury's opulent $14 million home in London. During their visit, Chowdhury showcased his lavish lifestyle, complete with a private cinema, gym, and a collection of luxury cars including a Rolls-Royce. He claimed that his properties were funded through legitimate businesses in the UK, UAE, and the US, while simultaneously asserting that he is a victim of a political witch hunt. Chowdhury's ties to Sheikh Hasina, the ousted Prime Minister of Bangladesh, were also highlighted, with him stating, "My father was very close to Prime Minister Sheikh Hasina, in fact, and so am I. She is my boss."
The investigation further revealed that Chowdhury's property ventures began in 2017, gaining momentum after he assumed a ministerial position in 2019. Following the political turmoil and student protests in July of last year, Chowdhury, along with other ministers, fled the country, prompting Bangladeshi authorities to launch an investigation into allegations of money laundering. Chowdhury's bank accounts have since been frozen, and the government has taken control of his family-owned bank, UCBL, to safeguard depositor funds.
