Bangladesh tracks Russian slush fund of ex-premier Hasina, family in Malaysian bank

By SM Najmus Sakib

DHAKA, Bangladesh (AA) – Bangladesh interim authorities said they have uncovered a Russian slush fund linked to former Prime Minister Sheikh Hasina and her family members in a Malaysian bank.

Transitional government head Muhammad Yunus met on Monday a joint investigation team on money laundering and was informed of the discovery, according to his press team.

A slush fund is a reserve of money used for illicit purposes, particularly for political bribery.

A joint investigation by the Bangladesh Financial Intelligence Unit, the key government agency for investigating money laundering and suspicious transactions, has traced undisclosed wealth tied to Hasina and her families across the US, UK, Malaysia, Singapore, Hong Kong, and the Cayman Islands.

The investigation led to the seizure of 124 bank accounts worth 6 billion Bangladeshi taka (approximately $49 million) and eight flats, among other assets, according to the government.

The transitional government also announced plans to introduce a special law to recover $234 billion it claims were laundered from Bangladesh during Hasina’s 15-year rule. She was ousted last August after a student-led uprising. The law is expected to be finalized within the next week.

The government says it has consulted about 200 legal firms to facilitate the recovery of the laundered money, and agreements will be signed with about 30 international law firms.

Six cases have been filed against Hasina and her family members on charges of embezzlement and fraud after she fled to India.

Investigations into the six cases were completed, and charge sheets submitted by the anti-corruption agency on Monday.

"This is the money of the people [of Bangladesh]. The money should be brought back as soon as possible. There will be a high-level meeting every month to know the progress," Yunus said.