EXCLUSIVE: Undercover sting reveals how the politician bought hundreds of overseas homes on a $13,000-a-year salary.
An undercover investigation by Al Jazeera’s Investigative Unit (I-Unit) has uncovered that former Land Minister of Bangladesh, Saifuzzaman Chowdhury, spent over $500 million on luxury real estate in London, Dubai, and New York without declaring his overseas assets on his Bangladesh tax returns.
The investigation revealed that Chowdhury, despite a $12,000 annual limit on foreign currency withdrawals for citizens of Bangladesh, managed to amass a significant property empire with 360 homes in the UK alone since 2016.
Authorities in Bangladesh have taken action by freezing his bank accounts and launching an investigation into money laundering claims against him. Chowdhury, a close ally of the removed Prime Minister Sheikh Hasina, fled Bangladesh amidst corruption allegations against her government.
The estate agent, lawyers, and bankers involved in Chowdhury’s property acquisitions maintained that they conducted thorough anti-money laundering checks and that his funds originated from legitimate businesses outside Bangladesh. They also emphasized that recent political events impacting Chowdhury were not known during their standard due diligence procedures.
Al Jazeera’s investigation tracks the trail of The Minister’s Millions to uncover the secrets behind Chowdhury’s massive property empire built on a modest salary.