Dhaka — A series of complaints filed with Bangladesh’s Anti-Corruption Commission (ACC) have alleged that former Environment, Forest and Climate Change Adviser Syeda Rizwana Hasan was involved in a cross-border money laundering scheme amounting to approximately Tk 120 billion (around $1 billion).
The allegations, now under preliminary scrutiny by the ACC, describe what complainants characterize as a coordinated network involving shell companies, over-invoiced government projects, informal remittance channels, and alleged exploitation of diplomatic privileges. No formal charges have yet been filed, and the claims remain unproven.
Alleged Asset Management Link to Former Minister
One of the key allegations involves alleged financial dealings connected to former State Minister for Power and Energy Nasrul Hamid. According to submissions made to the ACC, Rizwana Hasan’s husband allegedly acted as a “custodian” of assets worth nearly Tk 50 billion said to be linked to Hamid.
The complaints further allege that a portion of these assets was liquidated, with approximately Tk 40 billion transferred abroad, including to the United States. The ACC has not publicly confirmed verification of these claims.
Three-Country Financial Trail
The allegations outline an alleged laundering route spanning three jurisdictions:
United States — High-Value Transfers
Complainants claim that alongside the alleged Tk 40 billion linked to Hamid’s assets, an additional Tk 50 billion was transferred to the US through shell entities and inflated environmental project contracts.
Dubai — Family Business Channel
Approximately Tk 15 billion is alleged to have been invested in a Dubai-based business reportedly established under the name of a close relative. The allegations describe this as a method of distancing the principal beneficiary from direct ownership.
Azerbaijan — Diplomatic Context
The complaints also reference November 2024, when Rizwana Hasan attended the United Nations climate summit, COP29, in Baku as head of Bangladesh’s delegation. It is alleged that during this visit, a bank account was opened and Tk 5 billion was invested in businesses linked to relatives, purportedly under diplomatic cover. These claims have not been independently verified.
Environmental Projects Under Scrutiny
Eight specific allegations reportedly submitted to the ACC accuse the former adviser of embezzling roughly Tk 10 billion from projects under the Department of Environment, including Ecologically Critical Area (ECA) management and climate adaptation initiatives.
The submissions claim that inflated procurement bills, fabricated vouchers, and over-invoicing were used to divert funds. Additional allegations suggest regulatory authority was misused to exert pressure in land and compliance matters. No official findings have yet been announced.
Broader Allegations Against Former Interim Officials
The complaints extend beyond Rizwana Hasan and include allegations against several members of the former interim administration led by Muhammad Yunus.
Submissions cited by ACC sources refer to alleged financial irregularities, tax issues, procurement controversies, and cryptocurrency-based transfers involving different former advisers. None of the individuals named in the complaints have publicly responded to the specific claims as of publication.
Legal analysts emphasize that complaints filed with the ACC represent allegations, not judicial determinations of guilt.
Call for Transparent Investigation
Reacting to the developments, Transparency International Bangladesh Executive Director Iftekharuzzaman said that credible allegations must be independently investigated while ensuring protection against politically motivated harassment.
Observers note that if substantiated, the case could rank among the largest alleged financial scandals in Bangladesh’s history. However, investigators stress that recovery of funds from foreign jurisdictions would require international cooperation and adherence to due process under anti-money laundering frameworks.
For now, the ACC is conducting preliminary verification of documents, financial records, and cross-border transaction trails. The outcome of this review will determine whether a full formal investigation proceeds.
