The United Kingdom's National Crime Agency (NCA) has frozen luxury London properties worth around Tk 1,479 crore (£90 million), belonging to two individuals linked to the former ruling elite of Bangladesh.

According to official records, the NCA has secured nine property freezing orders against Ahmed Shayan Rahman and his cousin Ahmed Shahryar Rahman, preventing the sale or transfer of their high-value properties, including apartments in London’s prestigious Grosvenor Square.

The development comes amid increasing calls for the UK to assist Bangladesh in tracing and recovering assets allegedly acquired through corruption under the previous regime led by Sheikh Hasina.

Company records show the properties are owned through offshore firms registered in the British Virgin Islands, Isle of Man, and Jersey, and were purchased for prices ranging from Tk 19.72 crore to Tk 583 crore (£1.2 million to £35.5 million).

The Rahmans are son and nephew of Salman F Rahman, a powerful businessman and former adviser on private industry to Sheikh Hasina. He was reportedly arrested while attempting to flee during the student-led uprising that led to Hasina’s removal from office last year. He is currently facing corruption charges in Bangladesh.

The property holdings of the Rahman cousins were earlier revealed in a joint investigation by The Guardian and Transparency International, which exposed over Tk 6,575 crore (£400 million) worth of UK properties held by allies of Sheikh Hasina.

Among the frozen properties is one in Gresham Gardens, North London, where Sheikh Rehana—sister of Sheikh Hasina and mother of former UK City minister Tulip Siddiq—has reportedly resided. Two properties, worth around Tk 126 crore (£7.7 million), were the first to be flagged by the Financial Times.

Duncan Hames, Policy Director at Transparency International UK, urged British authorities to expand the investigation and freeze all suspicious assets without delay.

An NCA spokesperson confirmed the agency had obtained freezing orders as part of an ongoing civil investigation.

Meanwhile, Bangladesh’s interim government has issued an arrest warrant for Tulip Siddiq, who stepped down from her ministerial post following the allegations. She has denied any involvement in wrongdoing.

Lawyers for the Rahmans and their family business empire Beximco have been approached for comment. A spokesperson for Ahmed Shayan Rahman told the Financial Times that he “strongly denies any involvement in wrongdoing” and is prepared to cooperate fully with the UK authorities.

The spokesperson added that Bangladesh is experiencing significant political instability, with numerous allegations being brought against many individuals. They urged UK investigators to consider the broader political climate in their ongoing inquiries.

Source: The Guardian

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