Over the past two decades, corruption investigations into Bangladeshโs two major political families have painted two starkly different pictures. Begum Khaleda Ziaโs two sonsโTarique Rahman and Arafat Rahman Kocoโhave faced internationally documented money laundering cases. The cases are linked to court documents, US Justice Department filings, and asset forfeiture orders in Singapore, which provide clear evidence of their illicit financial dealings.
These documents were made in collaboration with several foreign agencies. They have played a key role in the asset recovery process for Bangladesh. On the other hand, the current interim government led by Dr. Muhammad Yunus has not been able to present any comparable evidence so far, despite making various allegations against Sheikh Hasina and her family.
As a result, there is a contrasting reality in the political arena of Bangladesh when it comes to accountability, where allegations abound, but the standards of evidence and justice are starkly different.
Arafat Rahman Koko, the youngest son of Khaleda Zia, is identified as the central figure in one of the most documented and internationally recognised money laundering cases in Bangladesh.
According to US Justice Department documents, approximately US$3 million associated with Koko is found in multiple bank accounts in Singapore. The source of this money was mentioned as bribes paid by Siemens Bangladesh in connection with the Chittagong Port project.
The 2012 charge sheet of the Justice Department states: โThe Department of Justice filed civil forfeiture cases against several bank accounts in Singapore, where approximately US$3 million was deposited. The charges state that these funds were the result of bribes paid by Siemens Bangladesh to Arafat โKocoโ Rahman.โ
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As a result of this case, a Singapore court ordered the return of approximately Tk800 million (approximately US$9.3 million) to Bangladesh. The Financial Express reported on August 28, 2013, confirming the ruling: โA Singapore courtโฆ has ordered a local consultancy firm to return to Bangladesh Tk800 million, which Koko laundered to Singapore through a company called Fairhill Consulting Limited during the BNP-led coalition government in 2001โ2006.โ
The Stolen Asset Recovery (StAR) Initiative, a joint initiative of the World Bank and the United Nations, has archived the case under the title โRahman Returns Three Tranches.โ The record details the process of asset recovery through mutual legal assistance between the Bangladesh government and Singaporean authorities.
Arafat Rahman Kokoโs case is an important precedent in Bangladeshโs history, where international cooperation, legal evidence and asset recovery have been combined. It demonstrates that effective international accountability and legal processes can yield tangible results in anti-corruption efforts.
Tarique Rahmanโs legal battle in court
Tarique Rahman, the eldest son of Khaleda Zia, who is currently the acting chairman of the BNP and is based in London, has long been the subject of multiple corruption and money laundering allegations.
According to court documents, Tarique Rahman and his close business associate Gias Uddin Al Mamun laundered about Tk204 million to Singapore between 2003 and 2007. Based on these allegations, the Anti-Corruption Commission (ACC) filed a case, which became one of the most talked-about financial crime cases in Bangladesh.
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After a long legal process, the High Court in 2016 overturned Tarique Rahman’s acquittal and sentenced him to seven years in prison and a fine of Tk 200 million. One of the global aspects of the case was the testimony of FBI agent Debra LaPrevot. She presented evidence about transactions in foreign bank accounts and the flow of funds, making the case a rare example of international cooperation.
The ACC lawyer welcomed the verdict, saying: โThe court has made it clear that power and money laundering are interrelated, and it is time to show zero tolerance for these crimes.โ The case has not only raised questions of personal responsibility; it has also triggered an important discussion about the political economy and the boundaries of accountability in Bangladesh.
Allegations against Sheikh Hasina
After the change of power in August 2024, the interim government led by Dr. Muhammad Yunus launched a series of investigations against former Prime Minister Sheikh Hasina and her family. The main points of the allegations were โ illegal acquisition of wealth, abuse of power and the possibility of hiding assets abroad.
However, international observers and analysts have noted that these allegations are not supported by any verifiable evidence so far. No examples of foreign court rulings, asset forfeiture documents, or formal requests for international legal assistance have been published by the Yunus government.
Several international media outlets, including Reuters, The Guardian and Al Jazeera, have described the Yunus administrationโs investigation as a โpolitically motivated anti-corruption drive.โ They noted that no foreign agency has yet confirmed any active asset-related cases or legal action against Sheikh Hasina or her family.
In contrast, the money laundering case involving Tarique Rahman and his brother includes US Justice Department filings, Singapore court confiscation orders and international banking documents. On the other hand, the current allegations surrounding Sheikh Hasina have yet to cross the boundaries of press statements and internal political rhetoric.
Expert and official assessment
Former ACC investigator Khandaker Mahbub Hossain told reporters that the Arafat Koko case showed what it takes to recover a credible asset.
An official from the World Bankโs Stolen Asset Recovery (StAR) Initiative (on condition of anonymity) said: โThe Arafat Rahman case is the most successful example of recovering assets sent abroad in Bangladesh.โ However, political analysts are commenting that the Yunus governmentโs approach demonstrates the politics of โallegations first, evidence later.โ
Political expert Dr. Shafiq Reza said: โIf the Yunus administration really had evidence against Sheikh Hasinaโs family, we would have seen foreign filings by now. There is no evidence of asset recovery papers as of yet.โ
Importance of documents
Anti-corruption experts emphasise that international credibility depends on documents, not declarations. A foreign confiscation order, civil filing or mutual legal assistance document is legal and evidence-rich. It cannot be replaced by any political statement.
By this standard, the cases of Tariq and his brother are the only internationally verifiable documented cases among Bangladeshโs political elite. The absence of documents in the allegations against Sheikh Hasinaโs family does not prove innocence, but it clearly shows that electoral or politically motivated allegations can be deprived of legal basis.
Why it matters
The credibility of Bangladesh’s anti-corruption cases depends on consistency. For example, Arafat and Tarique Rahman’s cases are documented and proven abroad. On the other hand, the case of Sheikh Hasina and the TARA family relies only on allegations. Then it is clear that the trial process is being driven by electoral or political motives, not by systemic reform. Experts warn that without verifiable documents, the government’s anti-corruption campaign will be remembered not as reform, but as revenge.
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