ACC Fails to Control 80% of Tk 40,000cr Seized Hasina-Era Assets

The Anti-Corruption Commission (ACC) has failed to take physical control of 80% of the immovable assets seized from former Prime Minister Sheikh Hasina’s family and close associates, leaving billions of taka in the hands of the accused.

Despite court orders freezing assets worth roughly Tk 40,000 crore across Bangladesh and abroad, the anti-graft watchdog has yet to appoint receivers for the vast majority of these properties. As a result, while the wealth is blocked on paper, the accused continue to enjoy the financial benefits.

ACC documents reveal that out of Tk 40,000 crore in court-ordered seizures, Tk 30,000 crore sits within Bangladesh. While the agency has attached immovable property worth over Tk 6,137 crore, the actual appointment of receivers remains stalled.

This administrative delay allows beneficiaries of the ousted Awami League regime—including Sheikh Hasina’s family, the S. Alam Group, and former Land Minister Saifuzzaman Chowdhury Javed—to retain practical control of their empires.

For instance, the ACC has failed to appoint a receiver for a Gulshan-2 flat owned by British MP Tulip Siddiq, despite a 2025 court seizure order. Similarly, a court-ordered freeze on a Segunbagicha flat belonging to Sheikh Rehana has seen no field-level takeover by the ACC for over a year.

A court-appointed neutral custodian tasked with managing seized property, collecting its revenues, and ensuring the income is deposited directly into the state treasury.

ACC officials attribute the sluggish enforcement to structural hurdles rather than neglect.

"Once the court issues an order, investigating officers immediately begin the process to appoint a receiver," said ACC Deputy Director Akhtarul Islam.

ACC panel lawyer Khademul Islam pointed to a severe staffing shortage and bureaucratic red tape as the main bottlenecks. "Gathering land records and coordinating with multiple government departments takes immense time. With our limited manpower, we cannot match public expectations for swift action."

However, former ACC Director General Moidul Islam firmly rejected these excuses, pointing instead to institutional inertia.

"The primary reason for this failure is a lack of institutional will and sincerity," Moidul Islam stated. "The income from these properties belongs in the state treasury. Because the ACC has failed to step in and assume physical control, the primary accused are still actively profiting from these assets."

The state has seen minor successes. Receivers have successfully taken over and begun redirecting revenues from properties owned by a few high-profile individuals, including former Inspector General of Police (IGP) Benazir Ahmed.

Legal experts stress that if the interim administration intends to fully recover state wealth, the ACC must pivot from paper blockades to aggressive, strategic field takeovers. Without swift receiver appointments, "seized" assets remain state-owned in name only.