The Criminal Investigation Department (CID) has launched an investigation into former land minister Saifuzzaman Chowdhury over allegations against him for money laundering to different countries.

It was stated in a press release sent to the media on Thursday.

According to the press release, Saifuzzaman Chowdhury, a former Awami League member of parliament (MP) from Chittagong-13 constituency, along with individuals and companies linked to him, is accused of laundering money to the United States, the United Kingdom, the United Arab Emirates, and Singapore.

In 2005, he established a company named `Nahar Management` incorporated in the United States, through which he reportedly purchased nine apartments in the country over time.

In 2014 and 2015, he set up two companies in Dubai — Rapid Raptor FZE and Zeba Trading FZE — to operate software businesses.

Besides, his wife Rukhmila Zaman Chowdhury bought two apartments at Al-Barsha South-Third area, Q Gardens and Boutique Residence, for 2.25 million dirhams.

Between 2016 and 2021, Saifuzzaman Chowdhury reportedly acquired 620 properties in the United States, the United Kingdom, and the UAE, valued at approximately $480 million.

For business purposes, he established eight companies in the United Kingdom and Dubai from 2010 to 2023 under his and his wife`s name, with fixed and current assets valued at $217.26 million.

It is alleged that these companies and investments were made using money laundered from Bangladesh.

Furthermore, Bangladesh Bank`s list of 21 approved overseas investments does not include Saifuzzaman Chowdhury or any of his family members.

The asset declaration he submitted to the Election Commission before the election also omits any mention of his foreign holdings.

Saifuzzaman Chowdhury has been linked to a global property empire, including over 600 homes in the UAE and the US.

His assets, along with those of his wife Rukhmila Zaman are currently frozen as part of the investigation into their undeclared offshore wealth.