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The United Kingdom’s National Crime Agency, which investigates serious and organised crime, has frozen luxury assets worth almost £90 million belonging to two members of a family closely associated with the ousted Awami League government, according to a report by UK’s daily The Guardian.

The report stated that the NCA issued nine asset freezing orders amid growing pressure on the UK to assist investigations into properties linked to members of Bangladesh’s ousted regime.

Among the orders is a restriction barring Ahmed Shayan F Rahman and his cousin Ahmed Shahriar Rahman from selling their assets. The frozen properties include apartments in London’s Grosvenor Square.

Shayan is the son of Salman F Rahman, former private industry and investment adviser to deposed prime minister Sheikh Hasina, while Shahriar is Salman’s nephew.

The names of the Shayan and Shahriar surfaced in a Guardian investigation into properties owned in the UK by those close to Sheikh Hasina.

Bangladesh Bank governor Ahsan H Mansur on Saturday said that they felt very encouraged following the UK’s decision to freeze assets reportedly bought with money stolen from Bangladesh, emphasising the importance of sustained political commitment and international cooperation in recovering stolen funds.

‘During my London visit, I  issued a statement highlighting our efforts along with those of the chief adviser. We are vmery encouraged by the asset seizure (by UK),’ he said while talking to reporters after an event at the Palli Karma-Sahayak Foundation office in the capital Dhaka.

On March 17, the Bangladesh Bank governor went to London and talked with an All-Party Parliamentary Group on corruption, emphasising the need for the UK’s support in Bangladesh’s asset recovery efforts, including sanctions on those assets.

The Transparency International Bangladesh in a media statement on Saturday welcomed the first step taken by the UK’s National Crime Agency against close associates and beneficiaries of Bangladesh’s fallen authoritarian regime in relation to money laundering and illicit wealth.

The anti-graft watchdog hopes that this move — freezing luxury wealth worth nearly 90 million pounds — would pave the way for stronger mutual legal assistance between the UK and Bangladesh, accelerating investigations and facilitating the swift recovery of laundered wealth.

The TIB has also called on other destination countries of illicit wealth to follow the UK’s lead by taking necessary measures under their respective legal frameworks to identify, seize, and repatriate illegal wealth owned by Bangladeshi individuals or entities.

TIB executive director Iftekharuzzaman said, ‘We also call on the relevant authorities in these countries to follow the UK’s lead by taking necessary actions — within their respective legal frameworks and under mutual legal assistance arrangements — to identify, seize, and repatriate illegal wealth owned by Bangladeshi individuals or entities.’

After the ouster of the Hasina-led Awami League government amid a student-led mass uprising on August 5, 2024, Salman F Rahman was arrested by law enforcers and he currently faces a number of cases filed over various charges, including corruption, murder and mass killing.

On April 16, the Anti-Corruption Commission filed a case against Salman, also vice-chairman of BEXIMCO Group, his son Shayan and 28 others on charges of misappropriation of Tk 1,000 crore from IFIC Bank.

In September 19, the Criminal Investigation Department of Police filed 17 cases with the Motijheel police station against 28 people, including Salman and Shayan, on charges of laundering about $83 million abroad under the cover of export trade.

Earlier, on March 10, a Dhaka court ordered the seizure of two London properties belonging to Salman and Shayan, following a petition by the ACC.

Most recently the UK’s NCA received authorisation to freeze two London apartments owned by Shayan.

The report stated that an NCA spokesperson said, ‘We can confirm that the NCA has secured freezing orders against a number of properties as part of an ongoing civil investigation.’

According to a Financial Times report, one of the properties is a luxury apartment in Grosvenor Square purchased for £6.5 million in 2010. Now, reports confirm that assets owned by Shahriar have also been seized alongside those of Shayan.

In 2024, The Guardian and the Transparency International jointly began investigating the assets of Shayan and Shahriar. That investigation uncovered links to assets worth £400 million belonging to people close to Hasina.

One of the frozen assets includes a property in Gresham Gardens, where Sheikh Rehana, Hasina’s younger sister and the mother of former UK City minister Tulip Siddiq, has reportedly lived, according to the Financial Times.

Tulip, who stepped down as minister amid the controversy, is facing an arrest warrant issued by Bangladesh interim government. She has denied any wrongdoing, said the FT report.