Former Land Minister Faces Trial With 36 Others

The Chittagong Divisional Special Judge’s Court has ordered the commencement of trial against former Land Minister Saifuzzaman Chowdhury, his wife Rukhmila Jaman, and 34 others in connection with a high-profile corruption and money-laundering case. The case, filed by the Anti-Corruption Commission (ACC), involves allegations that the accused siphoned off funds through fraudulent bank loans and transferred the money abroad. The order was delivered by Judge Mizanur Rahman following a hearing on Wednesday.

ACC Public Prosecutor Mokarram Hossain confirmed the court’s decision to our representative, stating that the trial will formally begin with the accused, who are currently at large, and that the first round of witness testimonies is scheduled for 4 April.

Allegations Against the Accused

The ACC submitted the charge sheet to the court on 4 January, detailing that a total of BDT 250 million was embezzled from United Commercial Bank (UCB) under the guise of a fictitious company. According to the allegations, Saifuzzaman Chowdhury used his company, Aramit Group, to create a sham company named Vision Trading, appointing his protocol officer, Mohammad Forman Ullah Chowdhury, as its nominal owner. Fraudulent documents were then presented to UCB’s Port Branch to secure the loan.

The ACC noted that despite 17 negative observations from the bank’s risk management division, the loan was approved. At the time, the bank’s chairperson was Rukhmila Jaman. The charge sheet alleges that Saifuzzaman effectively exercised de facto control over the bank and influenced loan approvals through board meetings.

Loan Disbursement and Misuse

Of the total loan, approximately BDT 149.1 million was used to settle previous liabilities of Aramit Cement and Aramit Thai Aluminium, while the remaining BDT 90.9 million was withdrawn from UCB’s Jubilee Road branch. The funds were reportedly transferred through Hundi and Hawala channels first to the UAE, then to several countries, including the United Kingdom, United States, Malaysia, and Singapore, to purchase assets abroad.

Overseas Assets and Investigations

During the investigation, 23 sacks of documents and evidence were recovered from a house belonging to a neighbour of Rukhmila Jaman’s driver, Ilyas. These records reportedly indicate ownership of over 1,100 flats and real estate properties abroad, with an estimated value of nearly BDT 10,000 crore, according to ACC Deputy Director Moshiur Rahman.

The ACC also reports that Saifuzzaman Chowdhury owns properties in at least nine countries, with 343 properties in the UK, 228 in Dubai, and 10 in the US, alongside holdings in Thailand, Malaysia, India, Vietnam, and Cambodia. Despite being barred from leaving Bangladesh in October 2024, both Saifuzzaman and his wife reportedly travelled abroad.

The case has drawn national attention due to its scale and the high-profile nature of the accused, highlighting systemic vulnerabilities in banking and governance, and the trial will continue with witness testimonies beginning on 4 April.