Al Jazeera reveals the extraordinary global wealth empire of a former Bangladesh minister
Agency
19/09/2024
Al Jazeera revealed that Saifuzzaman Chowdhury, who is also a former government minister from Bangladesh, built a real estate empire worth half a billion dollars only through the US$13,000 (RM55,000) salary he received as a politician.
Al Jazeera revealed that Saifuzzaman Chowdhury, who is also a former government minister from Bangladesh, built a real estate empire worth half a billion dollars only through the US$13,000 (RM55,000) salary he received as a politician.
The investigative unit of the international news organization Al Jazeera revealed how a former government minister from Bangladesh built a real estate empire worth half a billion dollars only through the US$13,000 (RM55,000) salary he received as a politician.
The extraordinary wealth of former Land Minister of Bangladesh, Saifuzzaman Chowdhury was revealed in the 25-minute long documentary "The Minister's Millions".
Based on the report, Saifuzzaman, who is also a close ally of the former Prime Minister of Bangladesh, Sheikh Hasina, is accused of buying more than 360 luxury properties in the United Kingdom worth US$250 million (RM1 billion).
The wealth acquired by Saifuzzaman invited questions from Al Jazeera following the strict currency laws in Bangladesh restricting citizens from taking out US$12,000 a year from Bangladesh.
In fact, at the same time, strict government regulations prohibit ministers from holding directorships or profiting from private businesses.
Al Jazeera's investigation and undercover also revealed Saifuzzaman's obsession with collecting real estate also led him to accumulate assets spanning Dubai, New York, Singapore and Malaysia.
The politician is also proud of his close relationship with Sheikh Hasina.
"My father is very close to the Prime Minister (Sheikh Hasina), actually, and so am I... he's my boss... he knows I have business here (in Britain)."
Saifuzzaman's property purchases increased rapidly in 2017 when he founded a company in the UK and his business growth increased in 2019 when he was appointed as a government minister.
Sheikh Hasina is in exile in India following her government's crackdown on student protests in July, prompting many of her ministers, including Saifuzzaman, to leave the country.
Bangladeshi authorities are now investigating allegations that Saifuzzaman laundered millions of dollars worth of money in the UK, freezing his bank accounts and controlling his family's bank, UCBL, to protect depositors' money.
Posing as a real estate investor, an Al Jazeera reporter met the minister last year at his US$14 million (RM59 million) London home.
In the interview, he proudly spoke of his penchant for spending thousands of dollars on hand-made Italian shoes and bespoke suits from London's leading boutiques.
The politician also took the undercover reporter on a tour of his London residence which also houses a cinema, gym, private lift and secure underground parking for his new Rolls-Royce car.
Saifuzzaman told Al Jazeera, all his properties were bought with funds earned by his legitimate businesses in the UK, the United Arab Emirates (UAE) and the United States. - Al Jazeera
