Court orders seizure of Saifuzzaman’s overseas assets, freezing of bank accounts

A Dhaka court on Tuesday ordered the seizure of some immovable and movable assets owned abroad by former land minister Saifuzzaman Chowdhury Javed and the freezing of several bank accounts.

The order was issued by Dhaka Metropolitan Senior Special Judge Shahjahan Kabir following an application by the Anti-Corruption Commission (ACC).

The ACC is preparing to send Mutual Legal Assistance Requests (MLARs) to the countries concerned to implement the court order. Speaking to journalists on Tuesday, ACC Assistant Director (Public Relations) Tanjir Ahmed said Saifuzzaman Chowdhury Javed’s overseas assets include several bank accounts in Singapore, Dubai in the United Arab Emirates and the United States. Detailed information about the accounts, including account numbers, has been preserved in relevant documents.

Following the court order, the ACC will contact the authorities concerned in the respective countries through legal channels. Through the MLARs, the commission will seek assistance in obtaining information about the overseas assets, identifying them and taking necessary measures in accordance with the court’s order.

ACC sources said the commission is verifying the nature, exact location and ownership structure of the assets held abroad. Transactions in the relevant bank accounts, sources of funds and financial relationships of individuals associated with the accounts are also being examined.

Allegations of overseas assets, money laundering

The ACC has ongoing inquiries and cases against Saifuzzaman Chowdhury over allegations including acquiring assets abroad, money laundering and concealing information about assets. As part of these proceedings, the commission has taken initiatives to collect and verify information about his assets in Bangladesh and abroad.

The ACC is examining various financial transactions, including the purchase of overseas assets, deposits in bank accounts and the possible sources of the funds involved.

The allegations remain subject to legal proceedings and have not been finally established by a court.
ACC officials said further legal action would be taken in accordance with the court’s order. Once the necessary information is received from foreign authorities, further details about the nature, ownership and value of the assets, as well as the sources of the funds, may emerge.

International cooperation sought

Officials concerned at the ACC said legal action involving assets held abroad must be pursued under the laws of the respective countries and applicable international legal cooperation mechanisms.

Through the MLARs, the commission will seek assistance from law enforcement agencies and relevant authorities in the countries concerned in obtaining documents and information relating to bank accounts, ownership of properties, financial transactions and the current status of the assets.

Once the information is received and verified, the ACC will take further action under Bangladesh’s existing laws and the court’s directives.

The ACC said legal proceedings concerning Saifuzzaman Chowdhury Javed’s overseas assets would continue in accordance with the court’s order.