Though officially known as a fish trader in Bangladesh, Sheikh Fazle Noor Taposh is widely recognized as a wealthy businessman across the globe. He is believed to own vast amounts of property in at least four countries, including luxurious homes in Singapore, the UK, Dubai, and the United States. His children are studying in London, and he owns legal consulting firms in both London and Singapore. Despite having little interest in accumulating property within Bangladesh, Taposh has focused on building an empire abroad—allegedly with money earned through massive corruption.

An ongoing investigation has uncovered startling information about his overseas assets. Taposh has even registered himself as a practicing lawyer abroad. Since 2013, he has operated a law firm in London, which, though owned by him, is run by both Bangladeshi and foreign lawyers. Until recently, he did not directly manage the firm, but since August 5, Taposh has taken over its day-to-day operations. The firm mainly provides legal assistance to undocumented immigrants.

He also owns property in Singapore, where he is reported to have made significant investments. One source estimates the value of his Singapore residence at approximately Tk 27 crore. However, other sources suggest that Taposh owns multiple homes in Singapore. He left Bangladesh on August 3, allegedly after a powerful figure warned him that the fall of the ruling Awami League was inevitable, prompting him to flee.

The Anti-Corruption Commission (ACC) has since launched an investigation into the sources of his wealth. They have detected suspicious transactions totaling Tk 539.16 crore across 27 of his bank accounts. Preliminary findings suggest that Taposh owns undeclared assets worth Tk 73.19 crore, acquired through various irregularities and corrupt practices.

From a review of these 27 bank accounts between September 22, 2013, and August 19, 2024, Tk 304.33 crore was deposited without a matching legal income source, and Tk 234.82 crore was withdrawn. Unusual foreign currency transactions amounting to $517,527 were also noted. Meanwhile, Taposh’s wife, Afrin Taposh, made suspicious transactions amounting to Tk 70.89 crore and $202,259 through her nine bank accounts.

Observers believe that these figures represent only a fraction of Taposh’s illicit wealth. Reliable sources suggest that Taposh embezzled over Tk 5,000 crore from the Dhaka South City Corporation alone, with an additional estimated Tk 3,000 crore laundered through Modhumoti Bank and other channels. Only a small portion of this stolen wealth remains in Bangladesh; most of it has been smuggled abroad.

In Singapore, Taposh and his wife have invested in three major companies—All Real Estate, Singapore Hospitals Ltd, and Aviation Singapore—where they reportedly hold shares worth Tk 167 crore. Taposh frequently traveled to Singapore and is confirmed to own two luxury apartments on Orchard Road, measuring 3,800 and 2,850 square feet, respectively. Another property under construction in Marina Bay is also said to be under his name.

Apart from Singapore, evidence of money laundering has also been found in the United Arab Emirates. In Malaysia, Taposh is believed to own two apartments, currently rented out. Sources allege that former fugitive State Minister for Power and Energy Nasrul Hamid Bipu helped Taposh acquire properties in Dubai, where he owns two luxury apartments.

London, however, appears to be Taposh’s second permanent base. Since completing his Bar-at-Law there, he is recognized as a registered legal practitioner and established a law firm in 2011. The firm, now employing eight lawyers, is located in East London’s Allgate area. Though it is officially managed by his team, sources say Taposh himself has been overseeing operations since August 5. He also owns a lavish apartment in King’s Stone and another in South London.

Another source claims Taposh invested in a restaurant in Scotland, managed by a close associate, Mizan, who had supported him during his parliamentary election campaign. Mizan reportedly moved to the UK after Taposh became an MP and helped manage and legitimize Taposh’s illegal foreign assets.

In the United States, Taposh is said to own property in Florida and has investments in the New York Stock Exchange.

Travel records show Taposh followed the same route abroad three times each year: first to Singapore, then the UK, then the US, and finally a stop in Dubai before returning home. This pattern indicates a consistent method of managing and transferring illicit funds abroad.

While Taposh claimed to practice law in Bangladesh, he reportedly abandoned the profession after becoming mayor. He later claimed no income from legal practice. This raises the question: how did he amass such immense foreign wealth on a mayor’s salary? Multiple sources believe his fortune stems from widespread corruption. Domestically, he posed as a fish farmer to explain his finances, while his foreign assets were carefully kept off the books.

Taposh is now living comfortably abroad with his embezzled funds. While the ACC investigates Tk 539 crore in suspicious transactions, the true scale of his wealth is believed to be far greater—and primarily offshore. So far, no formal steps have been taken by the ACC, CID, or Bangladesh Bank to recover Taposh’s overseas assets.