https://theasialive.com/bangladesh-money-laundering-investigation-expands-to-include-british-anti-corruption-minister-tulip-siddiq/2025/01/08

Bangladesh’s financial investigators have ordered the country’s major banks to hand over transaction records related to British anti-corruption minister Tulip Siddiq. The probe is part of a broader inquiry into alleged embezzlement involving Siddiq’s family, including her aunt, former Bangladeshi Prime Minister Sheikh Hasina, who fled the country last August following a mass uprising.

The Bangladesh Financial Intelligence Unit (BFIU), a key agency in the anti-corruption commission’s investigations, has directed banks to disclose all financial dealings connected to Siddiq and several members of Hasina’s family. Two officials from the BFIU, who requested anonymity, confirmed the directives to AFP. They emphasized the need for full transparency as investigators scrutinize complex financial networks tied to a massive infrastructure project.

The BFIU document, issued on January 8, outlines the request for records encompassing transactions involving Siddiq, Hasina, Hasina’s son and daughter, Siddiq’s siblings, and her mother, Sheikh Rehana. The investigation focuses on alleged illicit financial flows linked to the $12.65 billion Rooppur nuclear power plant, a project largely financed by Russia.

The Rooppur nuclear plant, heralded as a significant step in Bangladesh’s energy development, is now mired in controversy. Allegations of kickbacks, financial mismanagement, and money laundering surrounding the project have raised alarms within Bangladesh’s anti-corruption framework. The national anti-corruption commission has voiced concerns about potential abuse of power and misuse of public funds, asserting the need for accountability in such a high-stakes project.

“The claims of kickbacks, mismanagement, money laundering, and potential abuse of power raise significant concerns about the integrity of the project and the use of public funds,” the commission stated in its announcement of the investigation last month.

Tulip Siddiq, who has come under intense scrutiny in recent weeks, maintains her innocence. The British anti-corruption minister has taken proactive steps to address the allegations by referring herself to the standards adviser of Prime Minister Keir Starmer, demonstrating her commitment to transparency and accountability.

In a statement to the media, Siddiq insisted that she has done nothing wrong. “In recent weeks I have been the subject of media reporting, much of it inaccurate, about my financial affairs and my family’s links to the former government of Bangladesh,” Siddiq wrote in a letter to ministerial standards watchdog Laurie Magnus. She further requested an independent investigation to establish the facts.

The British Prime Minister’s office has expressed continued support for Siddiq, with a spokesman stating that Starmer retains “full confidence” in her despite the ongoing inquiries.

Sheikh Hasina’s dramatic exit from Bangladesh on August 5, just before protesters overtook her official residence in Dhaka, marked a turning point in the country’s political landscape. The student-led uprising against her administration, which had been accused of authoritarian rule, forced her into exile in India. The interim government that assumed power has since sought her extradition, accusing her of involvement in the deadly suppression of protesters during the revolt.

Hasina’s current status in India remains precarious, as diplomatic and legal negotiations unfold. The interim Bangladeshi government is determined to bring her to trial, underscoring the gravity of the charges against her, which include the deaths of protesters at the hands of security forces during her regime.

The investigation into the Siddiq and Hasina family finances underscores a broader issue of governance and transparency in Bangladesh. The allegations against high-ranking officials and their relatives highlight systemic challenges in curbing corruption and ensuring accountability for public officials. The inquiry into the Rooppur nuclear plant, in particular, reflects the complexities of managing large-scale development projects in a manner that safeguards public interest.

This ongoing saga has captivated both domestic and international audiences, with implications that extend beyond Bangladesh’s borders. The involvement of a British government minister adds a layer of international scrutiny, as observers watch closely to see how the investigation unfolds and what it reveals about the intertwined political and financial interests at play.