The UK’s National Crime Agency (NCA) has secured court-ordered freezing orders on two luxury properties in London linked to the son of a key figure from the former Bangladeshi government, following allegations of large-scale embezzlement under the rule of Sheikh Hasina, according to the Financial Times.
The properties in question are owned by Ahmed Shayan Fazlur Rahman, son of prominent Bangladeshi businessman Salman F Rahman — a close adviser to Hasina and founder of the Beximco conglomerate.
Official filings show the assets were purchased through offshore companies registered in the Isle of Man.
One of the properties is an upscale flat at 17 Grosvenor Square, acquired in 2010 for £6.5 million. The second, located in Gresham Gardens, North London, was bought for £1.2 million a year later.
Electoral roll records reveal that Sheikh Rehana — Hasina’s sister and mother of British Labour MP Tulip Siddiq — has previously resided at the Gresham Gardens address, though her current residency status is unclear.
In a statement, the NCA confirmed: “We can confirm that the NCA has secured freezing orders against property in 17 Grosvenor Square and Gresham Gardens, London, as part of an ongoing civil investigation. We cannot comment further at this time.”
Freezing orders are used by UK courts to prevent assets from being moved or sold while investigations are underway.
Both Salman and Shayan Rahman are under scrutiny by the Bangladesh Anti-Corruption Commission (ACC), which has alleged their involvement in financial misconduct.
“They are suspects in ongoing embezzlement investigations,” ACC chair Mohammad Abdul Momen told the Financial Times.
A spokesperson for Shayan Rahman has firmly denied the allegations, stating: “Our client denies any involvement in any alleged wrongdoing in the strongest possible terms.
He will of course engage with any investigation in the UK.” The spokesperson also pointed to the volatile political situation in Bangladesh: “It is well known that there is political upheaval… the UK authorities should take this into account.”
Attempts to reach Sheikh Rehana and Salman Rahman for comment were unsuccessful.
Sheikh Hasina was ousted from power in August 2024 after a wave of student-led protests ended her 15-year rule, widely criticised for its authoritarian tendencies. Now exiled in India, Hasina left behind a legacy mired in corruption allegations.
In the wake of the uprising, Nobel Peace Prize laureate Professor Muhammad Yunus was appointed to lead a transitional government tasked with institutional reform.
His administration has focused on recovering allegedly stolen public funds and has frozen bank accounts and seized overseas assets tied to figures from the Hasina regime.
Central Bank Governor Ahsan H Mansur, appointed by Yunus, is spearheading the effort to trace and recover billions believed to have been embezzled, with assistance from international authorities, including those in the UK and the US.
The crackdown has been branded by Awami League loyalists as a politically motivated purge. The party, now banned, claims the interim administration is targeting former officials and allies under the guise of justice.
Tulip Siddiq, niece of Sheikh Hasina and former minister in the UK’s Labour government, has also been drawn into the scandal.
Named in two corruption probes launched by the new Bangladeshi government, she stepped down in January amid pressure to protect the British government’s reputation. Siddiq has denied any wrongdoing.
