The Anti-Corruption Commission (ACC) has sought detailed wealth statements from Bashundhara Group Chairman Ahmed Akbar Sobhan and his wife Afroza Begum as part of an ongoing investigation into allegations of land grabbing, embezzlement, and money laundering.
ACC Director General (Prevention) Md. Akhter Hossain confirmed the development to reporters on Sunday, saying that a notice was issued under Section 26(1) of the Anti-Corruption Commission Act, 2004, requiring them to submit their asset declarations.
According to ACC findings, Sobhan owns immovable property worth Tk 67.50 crore and movable property worth Tk 184.71 crore in Bangladesh, totaling Tk 252.21 crore. He and his wife are also accused of smuggling $250,000 to Saint Kitts and Nevis, where they obtained citizenship, and of laundering large sums through bank accounts linked to companies registered in Switzerland (Lugano), the British Virgin Islands, and the Isle of Man.
Afroza Begum is reported to possess immovable assets worth Tk 117.95 crore and movable assets worth Tk 335.16 crore, amounting to a total of Tk 453.12 crore. Like her husband, she is accused of transferring $250,000 abroad to acquire foreign citizenship.
The ACC alleged that the couple, either directly or through proxies, acquired and hold properties both at home and abroad by “unlawful means” inconsistent with their known sources of income, and without proper approval from Bangladesh Bank.
The commission is also investigating broader allegations against Sobhan and his family members, including tax evasion, land grabbing, misappropriation of loans, illegal transfers of funds, and money laundering.
Following the political shift on August 5, 2024, when mass protests led to a change in government, several state agencies launched probes into corruption and irregularities involving influential businessmen linked to the former Awami League regime.
The National Board of Revenue’s Central Intelligence Cell (CIC) began inquiries into Sobhan and owners of other major companies, seeking financial records from banks and institutions. In October, the Bangladesh Financial Intelligence Unit (BFIU) froze bank accounts of Sobhan and eight family members. That same month, a court also imposed a travel ban on them at the ACC’s request.
In September, the CID announced an investigation into allegations of land grabbing worth Tk 1.5 trillion and money laundering against Sobhan, his son Sayem Sobhan Anvir, and other associates. Earlier this year, a court ordered the freezing of bank accounts and shares owned by Sobhan and his family.
In June, ACC Chairman Mohammad Moin Uddin Abdullah said letters were sent to the UK regarding assets allegedly laundered by Sobhan’s sons—Vice Chairman Safiat Sobhan (Sanvir) and Co-Chairman Sadat Sobhan.
