How a Bangladesh minister acquired over $500 million in luxury properties

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An investigation by Al Jazeera’s Investigative Unit has revealed that Bangladesh's former Land Minister Saifuzzaman Chowdhury spent more than $500 million on luxury real estate in cities such as London, Dubai, and New York, despite reporting an annual salary of $13,000. The investigation uncovered that Chowdhury, a member of a prominent family from Chittagong, purchased around 360 properties in the UK since 2016.

A Supreme Court advocate in Bangladesh stated that the country’s constitution mandates politicians to declare their foreign assets. Bangladeshi authorities have frozen Chowdhury's bank accounts and initiated an investigation into allegations of money laundering involving millions of dollars transferred to the UK.

Chowdhury was a close ally of former Prime Minister and his departure coincided with an investigation into widespread corruption in her administration. The central bank of Bangladesh is now scrutinizing Chowdhury's financial activities.

The investigation revealed that Chowdhury utilized a network of advisors, including Charles Douglas Solicitors LLP and Market Financial Solutions, to facilitate his property acquisitions.

Chowdhury maintains that the funds for his properties are derived from legitimate businesses outside Bangladesh. His advisors have stated they conducted appropriate checks and that the funds originated from established businesses in the UAE, US, and UK.