LONDON, Oct 22: British regulators have been urged by MPs to examine the relationship between London estate agents, lawyers and lenders and a former Bangladeshi government minister under investigation for alleged corruption.
Saifuzzaman Chowdhury was the land minister in Bangladesh until earlier this year, when the government of Sheikh Hasina was spectacularly toppled, after her regime's violent suppression of student protests.
Chowdhury has since had his bank accounts frozen and is being investigated by Dhaka authorities, amid allegations of corruption against multiple members of the deposed government.
A lawyer acting for Chowdhury, whose UK real estate portfolio includes more than 250 properties worth an estimated £200m, has previously said that his client has "nothing to hide" and had acquired his wealth before entering politics.
Now an MP on the all-party parliamentary group (APPG) on anti-corruption has asked HM Revenue and Customs, the Financial Conduct Authority (FDCA) and the Solicitors Regulation Authority (SRA) to investigate whether UK companies followed anti-money laundering rules when helping Chowdhury with property deals.
In letters seen by the Guardian, Labour MP Phil Brickell called on the three regulators to ensure that companies involved in the transactions "undertook adequate checks on the source of Mr Chowdhury's wealth and funds".
He urged HMRC, the FCA and the SRA to ensure that British estate agents, law firms and lenders had abided by their regulatory obligations.
"Showing that the UK is serious about making London the anti-corruption capital of the world requires proactive, swift and robust investigation where allegations of these kinds emerge," he said.
Members of the parliamentary APPG on anti-corruption and responsible tax met last week to discuss how to assist Bangladesh in tracking UK assets linked to people under investigation by Dhaka authorities. The chair of the group, Joe Powell MP, has written to the National Crime Agency urging it to investigate assets in the UK linked to members of the former Bangladeshi regime, including Chowdhury. — The Guardian
