Bangladeshi tycoons-under investigation by the Anti-Corruption Commission (ACC) following a student-led uprising that ousted former Prime Minister Sheikh Hasina-are rapidly offloading or refinancing UK property holdings. A joint probe by The Guardian and Transparency International reveals several high-value transactions while investigations continue in Dhaka.
UK Land Registry Shows High Activity: At least 20 “applications for dealing”-indicating sales, transfers, or new mortgages-were submitted in the last year alone to the UK Land Registry for properties linked to   individuals under scrutiny. Among them:4 listings tied to the family of ex?land minister Saifuzzaman Chowdhury. 3 linked to Salman F?Rahman, Beximco Group Vice Chairman. 3 involving the Sobhan family (Bashundhara Group). Major Freezes by UK Authorities: In May, the UK’s National Crime Agency (NCA) froze approximately £90 million in assets tied to Salman Rahman’s son and nephew, including apartments in London’s prestigious Grosvenor Square. 
In June, a further £170 million in UK property holdings belonging to Saifuzzaman Chowdhury were frozen. These cover over 300 properties, from Regent’s Park townhouses to Fitzrovia apartment blocks. In total, these freezing orders relate to assets estimated at over £260 million under formal civil action by UK authorities.
Key Individuals & Property Activity: Saifuzzaman ChowdhuryA former Bangladesh land minister, Chowdhury faces multiple corruption charges in Dhaka. UK data links him to 342 frozen properties, including a £10 million townhouse near Regent’s Park, with recent refinancing applications submitted by his brother Anisuzzaman Chowdhury.
Sobhan Family (Bashundhara Group): Three recent Land Registry applications relate to £24.5 million in properties held by the Sobhan family. One high-profile item: a Knightsbridge townhouse previously owned by managing director Sayem Sobhan Anvir, reportedly transferred-free of charge-to Brookview Heights Ltd, a UK corporate vehicle, then sold to another shell company for around £7.35 million.
Salman F Rahman’s Family: Ahmed Shayan Rahman (son) and Ahmed Shahriar Rahman (nephew) had £90 million in assets frozen, involving multiple properties across Grosvenor Square and Gresham Gardens, acquired via offshore entities in tax havens. 
heir moves raise serious questions about whether UK law firms and property agents exercised proper due diligence.Law firms such as Jaswal Johnston and Merali Beedle acted on some of these transactions. Transparency International warns:”Professional services firms should exercise extreme caution when conducting regulated activities for clients known to be under investigation… they should perform comprehensive source-of-wealth checks and report suspicious activity promptly” 
Political Backdrop & Government Appeal: The crackdown follows Bangladesh’s August?5 overthrow of Sheikh Hasina, after which an interim government led by Nobel laureate Muhammad Yunus took office. The interim government is actively seeking cooperation from the UK to prevent suspected corrupt actors from liquidating assets before legal cases in Bangladesh proceed.
Ahsan H. Mansur, Bangladesh Bank Governor and lead in asset recovery efforts, has urged the UK to freeze more properties:”We are aware of efforts to liquidate assets… we urge the UK government to consider more freezing orders. This will encourage due process and support repatriation of stolen assets.” ACC Chairman Mohammad Abdul Momen has also formally requested NCA action against several individuals as part of a broader anti-corruption drive in the property space.
Risk of Wealth Flight & Weak UK Oversight: Analysts note that even after initial freezes, many suspects have continued transferring properties-selling, remortgaging, or transferring title via shell companies with minimal transparency. Such behavior erodes confidence in UK property oversight and may weaken the ability to recover assets later. 
Ben Cowdock, of Transparency International UK, cautions:”Without swift action, assets can evaporate-placed beyond recovery through illicit channels… this is a key test of UK corporate and legal safeguards.” 
Legal Reactions & Public Sentiment: Shayan and Shahriar Rahman deny wrongdoing, describing allegations as politically motivated turbulence. They emphasize cooperation with UK authorities and suggest the allegations reflect broader instability in Bangladesh rather than criminality.
Chowdhury’s lawyer states a sale of the Regent’s Park property occurred in 2023, pre-dating political changes, and asserts no legitimate reason for freezing orders. However, critics argue many transactions appeared post-insurgency, raising red flags about attempts to insulate assets from investigation. Similarly, a Sobhan spokesperson denies all allegations and promises robust defence against accusations-though family activity in UK real estate continues apace.
What Lies Ahead: Asset Recovery and Systemic Reform: Bangladesh’s interim authority has signalled that freezing UK assets is just the first step. It plans to initiate legal proceedings to repatriate allegedly laundered funds, once ownership channels are clarified and due process complete.Mansur and ACC leaders plan further diplomatic missions, including visits to London, Dubai, and Singapore, to build pressure on global financial centers and coordinate asset tracing operations.
Transparency advocates call for:Tightened AML regulations by UK firms when serving foreign politically exposed clients.Establishing lasting international agreements for mutual legal assistance and asset recovery.Public asset registers where beneficial ownership is clearly stated, limiting shell-company opacity.
Broader Implications for Bangladesh and the UK: For Bangladesh, this represents a pivotal moment in asserting sovereignty and redressing decades of entrenched corruption. The interim government underscores asset recovery as a national mandate, vital for restoring public trust and economic integrity.
For the UK, this is a test of its ability to police illicit financial flows. London’s property market has long attracted foreign capital-including suspicious capital. The spotlight now falls on whether British institutions will enforce robust due diligence or continue enabling opaque transactions.
Duncan Hames, Senior Policy Director at TI UK, warns:”London risks becoming a refuge for illicit wealth unless professional actors act decisively.” 
Final Word: A Turning Point or Prelude: Bangladesh’s interim power structure faces tough choices: continue full legal pursuit of accused individuals, deepen transparency in public asset ownership, and press for swift asset freezes abroad.Meanwhile, tycoons linked to the former regime-such as the Rahmans, Chowdhury, and Sobhan family-appear intent on distancing their UK portfolios from ongoing investigations, via transfers and refinancing. The question now is whether current freezes represent the apex of these efforts-or serve as a temporary firewall before further asset dispersal.As the drama unfolds in London Courtrooms, UK Land Registry offices, and Dhaka’s ACC chambers, the outcome will likely shape global norms around asset recovery, AML enforcement, and transnational anti-corruption cooperation.Bangladeshis linked to Hasina regime appear to have made UK property transactions in past year. UK crime agency freezes London properties linked to former Bangladesh regime.