Bangladesh freezes $6.19 billion linked to Sheikh Hasina, family in massive crackdown
&imwidth=600&imheight=450&format=webp&quality=medium "Bangladesh freezes $6.19 billion linked to Sheikh Hasina, family in massive crackdown")
A file picture of Bangladesh Prime Minister Sheikh Hasina Photograph: (ANI)
Bangladesh has frozen assets worth $6.19 billion linked to former prime minister Sheikh Hasina, her family and 10 major business groups as part of a sweeping corruption and money laundering investigation.
Bangladesh's financial intelligence agency on Wednesday (Jul 15) said authorities have frozen assets worth Tk 760 billion (approximately $6.19 billion USD) linked to former prime minister Sheikh Hasina, members of her family and 10 of the country's biggest business groups, marking one of the largest asset-freezing exercises since last year's political upheaval.
Speaking at the launch of the Bangladesh Financial Intelligence Unit's (BFIU) annual report in Dhaka, BFIU chief Ikhtiar Uddin Mohammad Mamun said court orders had enabled authorities to freeze Tk 570 billion worth of assets inside Bangladesh and another Tk 190 billion overseas.
Mamun did not provide a breakdown of how much had been frozen from individual family members or specific business groups.
Asset recovery efforts underway
The BFIU chief said authorities were now focused on tracing and recovering money allegedly moved out of the country.
"We are working to recover the assets that were stolen from the country. We hope to share positive news on asset recovery by the end of this year," he said.
Trending Stories
)
)
&im=FitAndFill=(700,400))
)
)
)
)
)
)
)
)
&im=FitAndFill=(700,400))
)
)
)
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
)
)
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
)
)
&im=FitAndFill=(700,400))
)
)
)
)
)
)
The asset freeze follows investigations launched after Hasina was ousted from power on August 5, 2024, following a student-led uprising. She later fled from Bangladesh and has since been living in asylum in India.
The interim government headed by Professor Muhammad Yunus subsequently ordered probes into allegations including corruption, bribery, fraud, forgery, money laundering, foreign currency smuggling and tax evasion involving Hasina's family and several major corporate groups.
Ten business groups under scanner
According to the BFIU, the investigation covers S Alam Group, Beximco Group, Nabil Group, Summit Group, Orion Group, Premier Group, Nassa Group, Bashundhara Group, Sikder Group and Aramit Group.
The investigations are being carried out jointly by the Criminal Investigation Department (CID), the National Board of Revenue (NBR) and the Anti-Corruption Commission (ACC), with the BFIU coordinating the financial intelligence aspect of the probe.
'Political identity does not matter'
During the event, Mamun was asked why major financial investigations often gather pace after a change in government and whether members of the current interim administration could also face scrutiny.
He rejected suggestions that the investigations were politically driven. "When carrying out our work, we do not consider political affiliation or personal identity. We focus on the work itself," he said.
Mamun added that banks freeze accounts whenever they identify suspicious transactions, regardless of who is involved. "If anyone from the interim government is involved, that will also come to light," he said.
