Luxury UK properties of Salman F Rahman’s son, nephew frozen

The UK’s serious and organised crime agency has frozen almost EUR 90 million (equivalent to Tk 14.78 billion) of luxury London property belonging to Salman F Rahman's son and nephew, British media The Guardian reports.

The National Crime Agency (NCA) of the UK obtained nine freezing orders in the wake of mounting pressure on the UK to assist Bangladesh in tracing assets linked to the former regime, says the report.

"The orders prevent Ahmed Shayan Rahman and his cousin, Ahmed Shahryar Rahman, from selling property, including apartments in London’s Grosvenor Square. The pair were named in a Guardian investigation into UK assets owned by allies of Bangladesh’s former autocratic ruler, Sheikh Hasina.

All properties are owned via companies in the British Virgin Islands, Isle of Man or Jersey, according to Companies House records, and were acquired for prices ranging from EUR 1.2m (nearly Tk 200 million) to EUR 35.5m (Tk 5.84 billion)."

Ahmed Shayan Rahman is son of Salman F Rahman and Ahmed Shahryar Rahman is nephew.

Salman, a wealthy businessman and Hasina’s former adviser on private industry and investment, is currently incarcerated in Bangladesh and is facing corruption charges.

"His son and nephew’s properties featured in a joint investigation between the Guardian and the campaign group Transparency International last year, which revealed £400m worth of property owned by allies of Sheikh Hasina.

The properties frozen by the NCA include one in Gresham Gardens, north London."

Sheikh Rehana, Hasina’s sister and also the mother of the former UK City minister Tulip Siddiq, has lived at the property, reported the Financial Times of the UK.

“We urge UK law enforcement to continue their inquiries and to freeze all suspect assets without delay,” the Guardian quoted Duncan Hames, the director of policy at Transparency International UK, as saying.

An NCA spokesperson said: “We can confirm that the NCA has secured freezing orders against a number of properties as part of an ongoing civil investigation.”

Investigations by the interim government of Bangladesh into the former regime have also resulted in authorities there issuing an arrest warrant for Tulip Siddiq, who stepped back as City minister in the light of the allegations. She has denied any wrongdoing.

The Guardian has approached lawyers for Shayan and Shahryar and Beximco, the family corporate empire founded by Salman Rahman, for comment.

A spokesperson for Ahmed Shayan Rahman earlier told the FT: “Our client denies any involvement in any alleged wrongdoing in the strongest possible terms. He will of course engage with any investigation which takes place in the UK.”

They added: “It is well known that there is political upheaval in Bangladesh, where numerous allegations are being made against many hundreds of individuals. We would expect the UK authorities to take this into consideration.”