The Federal Bureau of Investigation (FBI) has uncovered evidence linking ousted Prime Minister Sheikh Hasina and her son Sajeeb Wazed Joy to a major money laundering scheme involving $300 million. According to the FBI’s London representative, senior lawyer Linda Samuels from the U.S. Department of Justice contacted Special Agent
La Prevot, who confirmed that the funds were transferred from Bangladesh to various U.S. bank accounts.
On September 9, a delegation from the FBI met with Bangladesh’s Anti-Corruption Commission (ACC) Director General and other officials, handing over a significant amount of documentation related to the case. The investigation reveals that the funds were channeled through shell companies in the Cayman Islands and Hong Kong before being deposited into accounts in New York, Washington D.C., and London.
The U.S. investigation has raised serious concerns about financial irregularities involving high-ranking officials in Bangladesh. On October 1, a European delegation led by Michal Krejzer, the Head of the Cooperation Department of the EU Delegation to Bangladesh, also met with the ACC to discuss strengthening efforts to recover laundered money and enhance the commission’s operational capacity.
The ACC has since launched a probe into the allegations of embezzlement, focusing on the $300 million sent to the United States. According to anonymous sources within the ACC, a formal complaint has been filed against Sheikh Hasina and SajeebWazed Joy, with the investigation now under the purview of the ACC Director General.
In a related development, ACC Director General Md. Akhtar Hossain revealed on December 17 that Sheikh Hasina, Joy, Hasina’s sister Sheikh Rehana, and British MP Tulip Siddique are among those accused of embezzling $7 billion from nine development projects. These include high-profile initiatives such as the Rooppur Nuclear Power Plant and projects under the Bangladesh Export Processing Zones Authority (BEPZA) and the Bangladesh Economic Zones Authority (BEZA). Sources indicate that the Rooppur Nuclear Power Plant project alone accounts for $5 billion of the alleged embezzled funds.
Tulip Siddique, the British Member of Parliament and Hasina’s niece, has been named in the investigation, raising questions about her potential involvement in the financial misconduct. The investigation into the alleged corruption by the Hasina family comes after Sheikh Hasina resigned and fled to India in August following a student-led uprising, marking the end of her 15-year rule.
The investigation into Sajeeb Wazed Joy’s financial activities first came to light during the 2014 U.S. vs. Rizvi Ahmed case. The FBI’s findings confirm that Joy was involved in the transfer of significant sums of money through various bank accounts linked to Hong Kong and the Cayman Islands. These transfers were routed to U.S. banks in New York, Washington D.C., and London.
ACC Chairman Muhammad Abdul Momen has acknowledged the authenticity of the reports, stating that further information is expected, and the commission will provide updates as the investigation progresses. This development comes amid growing concerns over illicit financial flows from Bangladesh. A recent white paper on Bangladesh’s economy revealed that the country lost $16 billion annually between 2009 and 2023 due to illicit fund flows under the rule of the Awami League government. As the investigation continues, the implications of these findings could have far-reaching consequences for Bangladesh’s political landscape, with the potential for international legal action against those implicated in the money laundering scheme.