£15mn London flat near Regent's Park has been frozen by the High Court after the UK National Crime Agency secured an order blocking its sale or transfer. Investigators allege the property is linked to embezzlement, fraud and money laundering, and that its Bangladeshi beneficial owner, Anisuzzaman Chowdhury, staged a £1 sale to disguise control.
The NCA uncovered a "deliberately opaque" arrangement to conceal true ownership, court documents show. Chowdhury, whose brother Saifuzzaman Chowdhury served as Bangladesh's land minister, was subjected to an unexplained wealth order last year requiring him to prove the residence was purchased with legitimate funds. Under UK anti-corruption laws, failure to do so creates a legal presumption the property was acquired unlawfully.
An NCA officer said the agency suspects the property derives from unlawful conduct including embezzlement, corruption, fraud and money laundering. Faked signatures of former US president Richard Nixon, former UK prime minister David Cameron and US singer Chris Brown were used on documents, showing a "cavalier" attitude to fraud.
Mrs Justice Karen Steyn ruled there was a good arguable case the property represented proceeds of crime and granted the freezing order, with a carve-out for landlord possession proceedings. Chowdhury's solicitors did not oppose the order. He told the FT he did not engage in unlawful conduct and would defend any civil recovery proceedings strenuously.
Source: Financial Times Companies · Summarized by HeadlinesBriefing