Benazir's wealth: Unseen until now?

Former Inspector General of Police (IGP) Benazir Ahmed purchased four apartments on the 12th and 13th floors of Rancon Icon Tower in Dhaka for his wife and daughters on 5 March 2023 for Tk2.19 crore, according to the Anti-Corruption Commission (ACC).  

The Rancon Icon Tower is a high-end residential building in the posh Gulshan-1 neighbourhood (CEC (G) block, plot number 134, formerly 130).

The declared price for these flats, covering a total area of 9,192 square feet, is significantly lower than the market value for such luxurious apartments.

The ACC told a Dhaka court that Benazir Ahmed purchased these apartments with undisclosed income.

In addition to the four luxury flats, the ACC uncovered a significant amount of wealth tied to Benazir and his family. This includes 621 bighas of land registered in their names, 33 bank accounts and four Beneficiary Owner's (BO) accounts, a savings account with a balance of Tk30 lakh, full ownership of four companies and partial ownership in 15 others.

Benazir accumulated these properties over an extended period, but it was the media reports that prompted the ACC to launch its investigation, raising questions about why legal action is being taken so late.

The former police chief Benazir Ahmed has come under the ACC scrutiny only after a national daily ran a two-part report on his undisclosed asset acquisition.

The ACC said court orders have already led to the seizure of some of these properties. Any additional undeclared assets discovered will also be subject to court orders for confiscation.

The commission is currently investigating the possibility of Benazir owning property abroad, with officials suggesting that more significant assets may yet be found.

Why is legal action so late?  

In response to a query regarding whether the ACC initiated legal proceedings against Benazir following media reports, ACC lawyer Khurshid Alam Khan told TBS, "The commission operates independently and action was taken only upon the ACC becoming aware of Benazir's undisclosed wealth. Verifying the information published by the media took some time before the investigation could commence."

He said the next step in the investigation process is to file a case. Subsequently, if deemed necessary, Benazir can be arrested.

"The ACC is diligently following every legal procedure, ensuring no disruption in the process, and preventing any interference," Khurshid Alam added.

Dr Iftekharuzzaman, executive director of Transparency International Bangladesh (TIB), "The matter of taking legal action so late is quite disappointing. The ACC is supposed to be an independent institution and should initiate these actions on its own. However, there is a question of whether they can decide what to investigate or if they need approval.

"Many senior government officials are now saying that the government's leadership supports the action against Benazir. With measures now in place, the investigation and subsequent trial will hopefully be completed quickly," he added.

What was the actual price of the flats?

The Rancon Icon Tower, developed by Rancon Developments Ltd on 19.75 acres of land, features upscale amenities including a roof-top gymnasium, roof-top swimming pool, landscaped roof garden, lounge and café, and a grand reception, according to an official from the construction company.

Despite its luxurious amenities, the apartments' total value is documented as only Tk2.19 crore, indicating that Benazir Ahmed purchased the flats at Tk2,382 per square foot.

Even though the cost of building materials almost doubled in 2023, the price of luxury apartments in upscale areas remains as low as Tk30000 per square foot.

Residents residing near Rencon Icon Tower told TBS that each of these apartments was purchased for more than Tk7 crore. The former police chief reportedly invested approximately Tk30 crore to acquire four apartments.

Real estate traders argue that it would have been impossible to procure a flat in the capital city of Dhaka at the price indicated by Benazir Ahmed. Furthermore, acquiring such luxurious apartments in an esteemed residential area like Gulshan seems highly improbable.

"Unbelievably low prices for such apartments are recorded in the documents. This is clearly corruption. When someone wants to invest illicit money, they hide the information in this manner," former Supreme Court Justice AHM Shamsuddin Choudhury Manik told TBS.

He added that those who engage in corruption use this method to conceal their true value and invest anonymously in various places.

Court orders seizure of assets

Following a petition filed by the ACC on 19 May, a Dhaka court ordered the disclosure of all properties listed in 119 documents under Benazir and his family members' names.

Previously, in response to another petition on 23 May, the same Dhaka court ordered the seizure of 345 bighas of property listed in 83 documents under Benazir and his family members' names. The ACC stated in the court application that these lands are situated in Gopalganj and Cox's Bazar areas.

ACC lawyers said the assets were being confiscated as part of the investigation into the acquisition of assets beyond Benazir's known holdings.

The court also ordered the seizure of 276 bighas of land registered under Benazir Ahmed and his wife Zeeshan Mirza's names in Satpara Dumuria Mauza of Madaripur Rajoir upazila.

Furthermore, four companies under his family members' names, as well as partial shares in 15 companies, have been instructed for seizure.

In total, approximately 621 bighas of land owned by Benazir and his family members have been ordered for confiscation. Most of these lands are owned by Benazir's wife, Zeeshan Mirza, with about 521 bighas of land registered in her name.

According to the ACC's court application, the acquisition of 621 bighas of land, establishment of companies, and purchase of shares in 15 companies occurred between May 2020 and August 2022.

Benazir's tenure

Benazir Ahmed served as the Inspector General of Police from 15 April 2020 to 30 September 2022. Prior to this, he held positions as the commissioner of Dhaka Metropolitan Police (DMP) and director general of the Rapid Action Battalion (RAB).

Benazir Ahmed was among those sanctioned by the US in December 2021 for alleged human rights violations while he was serving as the Inspector General of Police (IGP) of Bangladesh.

Following the publication of the news report concerning Benazir's assets, Barrister Syed Sayedul Haque Sumon, an independent member of parliament for Habiganj 4 constituency, urged the ACC to investigate the matter.

However, as the ACC did not respond, Sumon sought directions from the High Court to investigate the corruption allegations. Subsequently, another lawyer filed a separate petition on the same matter.

The High Court heard both petitions and instructed the ACC to submit a follow-up report within a month.

Subsequently, on 23 April, the ACC secretary informed the media that a committee had been formed to investigate Benazir's assets outside of known income.

A large-scale crime?

Barrister Jyotirmoy Barua, a human rights activist and Supreme Court lawyer, told TBS, "The information regarding Benazir's wealth is surfacing now, indicating a large-scale crime. Such offences cannot remain concealed. He likely had the support of influential people."

"When he held authority, the ACC refrained from pursuing legal measures against him. This reflects the ACC's typical conduct, where they promptly address political matters while overlooking cases involving influential figures engaged in illegal activities," he said.

"Now that Benazir is no longer in power, the ACC appears emboldened to take action. It is not only Benazir; there are numerous other prominent individuals with unlawfully amassed wealth. If the ACC prosecutes them as they are doing with Benazir, it will showcase the agency's effectiveness," Barua added.