ACC struggles as 80% of Tk 40,000cr assets tied to Sheikh Hasina stay outside control

Bangla Press Desk: Around 80% of the Tk40,000 crore worth of assets seized in connection with former prime minister Sheikh Hasina and her associates remain outside the control of the Anti-Corruption Commission (ACC), as the agency has failed to appoint receivers for most of the immovable properties.

Although courts have ordered the seizure of assets worth nearly Tk40,000 crore at home and abroad up to 2025, the ACC has not been able to appoint receivers for about 80% of the immovable properties. As a result, while ownership of the assets has been blocked on paper, the accused individuals are allegedly continuing to benefit from them.

According to ACC data, a flat at the ‘Eastern Harmony’ building on Road No. 71 in the capital’s Gulshan-2, is owned by British MP Tulip Siddiq. Although a court ordered its seizure in 2025, a receiver has yet to be appointed for the property. Similarly, the ACC has not been able to take control of a flat in Segunbagicha registered in the name of Sheikh Rehana, despite a court order issued more than a year ago.

An analysis of ACC documents shows that of the total assets worth Tk40,000 crore, properties worth Tk30,000 crore are located in Bangladesh. Of these, immovable assets worth more than Tk6,137 crore have been attached. However, the process of appointing receivers for most of these properties remains pending.

As a result, members of Sheikh Hasina’s family, former land minister Saifuzzaman Chowdhury, and other beneficiaries of the Awami League government era are still allegedly enjoying the benefits of these assets.

ACC Deputy Director Akhtarul Islam said investigation officers begin the process of appointing receivers after obtaining court approval following seizure orders.

However, ACC lawyer Khademul Islam identified a shortage of manpower and lengthy investigation procedures as major obstacles in taking possession of the assets at the field level.

“Collecting documents and conducting investigations at different government offices require considerable time. Due to manpower shortages, work cannot be completed quickly as expected by the people,” he said.

Former ACC Director General Moeedul Islam, however, disagreed with the explanation, saying the main reason behind the failure was a lack of commitment and sincerity on the part of the commission.

“Income generated from these assets is supposed to be deposited with the receiver. But as the ACC has not taken control by filing applications, the main accused individuals are continuing to enjoy the assets,” he said.

Despite the slow progress, the process of depositing money into the state treasury has started after receivers were appointed for the assets of some influential individuals, including former inspector general of police Benazir Ahmed.

Experts said the ACC needs to become more active and strategic in implementing court orders and bringing seized assets under government control.

Following the fall of the Sheikh Hasina government, courts ordered the seizure of huge amounts of assets owned by influential individuals over corruption allegations. Under existing rules, receivers are supposed to be appointed to maintain such assets and collect income generated from them.

However, administrative and legal delays have prevented effective implementation, leaving the assets practically under the control of their previous owners despite seizure orders. Source: daily Sun

BP/TD