Prominent Bangladeshi figures, including politicians and business leaders accused of corruption, own UK properties worth approximately 拢400 million.
An investigation, conducted by The Observer in collaboration with Transparency International, has revealed the information in a report published in the British daily Guardian.
The properties were acquired through offshore companies and family members, with ownership concealed using complex corporate structures, according to the report.
One of the figures is Salman F Rahman, former prime minister Sheikh Hasina鈥檚 private industry and investment adviser, who now faces allegations of money laundering.
Members of the Rahman family own 鈥� or hold stakes in 鈥� seven luxury apartments there, mostly through companies based in offshore jurisdictions, the report said.
One, bought for 拢26.75m in March 2022, is owned 鈥� via a British Virgin Islands company 鈥� by Ahmed Shayan Rahman. He also owns another flat in the square that cost 拢35.5m, according to the findings.
Offshore companies controlled by his cousin, Ahmed Sharyar, own a further four properties worth a combined 拢23m, in the same square and nearby.
Former Land Minister Saifuzzaman Chowdhury and his family have been linked to over 300 UK properties worth at least 拢160 million.
Family members of Ahmed Akber Sobhan,聽 linked to the Bashundhara Group, own two vast properties here, acquired for a combined 拢13m and owned via companies registered in the British Virgin Islands, Golden Oak Venture Limited and Kaliakra Holdings Limited.
A third, a French-style mansion, owned by one of Sobhan鈥檚 sons, appeared to be under construction, the聽Observer聽investigation found.
One 拢10m mansion, on a gated estate in London鈥檚 Kensington, is owned by Shah Alam鈥檚 son and the vice chairman of Bashundhara Group, Safwan Sobhan, through a company called Austino Limited.
A similar arrangement relates to a 拢5.6m Chelsea waterfront property owned by Safwan鈥檚 brother, at a cost of 拢28m. The apartment was purchased by Red Pine Trading, which is based in the British Virgin Islands but gives its address as a tower in Singapore.
Nazrul Mazumder, the founder and chairman of another Bangladeshi conglomerate, Nassa Group, has also come under scrutiny.
His family owns Kensington properties worth 拢38 million, while he faces money laundering charges in Bangladesh.
Many of these properties are rented out, providing a steady income stream.
As of 2023, the UK publishes data on overseas entities that hold land titles. But ownership can be easily hidden by simply wrapping the property-owning company inside another offshore vehicle, like an anonymous trust.
This loophole is just one concern shared by those who question the adequacy of the UK鈥檚 transparency regime.
