CID investigating money laundering charges against Saifuzzaman

The Financial Crime Unit of the Criminal Investigation Department (CID) has launched an investigation into former Land Minister Saifuzzaman Chowdhury Javed over allegations of money laundering involving assets in the UK, USA, UAE, and Singapore.

According to Azad Rahman, Special Superintendent of Police (Media) at CID headquarters, Saifuzzaman reportedly owns a company named Nahar Management Incorporated in the United States, through which he acquired nine properties.

Additionally, between 2014 and 2015, he established two software businesses in Dubai, UAE, while his wife, Ruthmila Zaman Chowdhury, purchased two apartments worth 2.25 million dirhams in the same period.

The investigation further indicates that between 2016 and 2021, Saifuzzaman, a former MP from Chattogram-13, acquired 620 properties across the USA, UK, and UAE, with an estimated market value of $48 million. From 2010 to 2023, he reportedly set up eight companies in the UK and UAE, registered under his and his wife’s names, amassing assets valued at approximately $21.72 million.

According to CID, Saifuzzaman failed to disclose his foreign assets in his wealth statements prior to election, which has raised further questions about his financial dealings.