ACC now seeks info on ex-land minister Saifuzzaman, family’s stock investment
The commission requested the Dhaka Stock Exchange to provide information within 12 September
The Anti-Corruption Commission (ACC) has now sought information on stock market investments by former land minister Saifuzzaman Chowdhury and his family members as part of its ongoing investigation into the amassing of illegal wealth and money laundering.
The graft watchdog has been investigating allegations against Saifuzzaman for laundering thousands of crores of taka to the United Kingdom, including accusations of acquiring illegal wealth through various irregularities and corruption.
The commission has constituted a three-member panel to investigate the allegations against the former land minister.
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As part of the investigation, the commission on 27 August wrote to the Dhaka Stock Exchange (DSE) seeking information on investment by Saifuzzaman, his wife Rukhmila Zaman, his daughter Zeba Zaman, and his sons Tanayeem Zaman Chowdhury and Sadakat Zaman.
The commission requested the Dhaka bourse to provide the information by 12 September to the investigation team coordinator, Ram Prasad Mondol, a deputy director of the ACC.
On 12 August, the Bangladesh Financial Intelligence Unit (BFIU) ordered all banks to freeze the accounts of United Commercial Bank's former chairman Rukhmila and Saifuzzaman.
In a letter to the DSE, the ACC stated, "Former land minister Saifuzzaman Chowdhury is accused of acquiring illegal wealth through various irregularities and corruption, including laundering thousands of crores of taka to the UK."
"It is necessary to collect and review information on investments in various companies under the stock exchange in his own name and jointly owned companies," the letter continued.
According to the DSE, Rukhmila was the chairman of United Commercial Bank, a publicly listed bank, and she held 2% of the shares of the private sector lender.
She is also the managing director of Aramit Cement, another listed firm and a sister concern of the Aramit Group, which was established by the late Awami League leader Akhtaruzzaman Chowdhury. Following the leader's death, his son Saifuzzaman Chowdhury took charge of the group.
Allegations against Saifuzzaman
In mid-August, the ACC decided to investigate allegations against Saifuzzaman concerning the acquisition of illegal assets worth crores of taka through irregularities and corruption.
Reports of Saifuzzaman and his wife holding substantial wealth in the United States, the United Kingdom, and Dubai, the UAE, had been appearing in media outlets even before the fall of the Awami League government.
According to some reports, the couple has large sums of money deposited in various banks abroad without obtaining permission from the Bangladesh Bank.
On 4 March, evidence and documents related to the allegations were forwarded to the Bangladesh Financial Intelligence Unit, the ACC, the Criminal Investigation Department, the National Board of Revenue, and the Attorney General's Office.
