City Minister Tulip Siddiq named in Bangladeshi corruption probe
The City minister has been named in an investigation into whether her Bangladeshi family embezzled nearly £4bn from energy and major infrastructure deals.
Tulip Siddiq, whose ministerial remit includes tackling corruption in financial markets, is accused of having helped broker a deal with Russia for a nuclear power power plant in Bangladesh 11 years ago which allegedly saw £1bn siphoned off.
The investigation by Bangladesh’s Anti-Corruption Commission is being carried out on the instruction of the country’s new government, a political opponent of Siddiq’s aunt, Sheikh Hasina.
Hassina was the country’s longest-serving Prime Minister, and fled the country earlier this year amid claims of corruption and overseeing an oppressive regime that quashed freedom of speech and opposition voices.
She is now wanted by Bangladesh’s International Criminal Tribunal for what the court alleges were crimes against humanity in response to demonstrations against her rule which saw hundreds killed.
The wider probe alleges that Hasina, who is now believed to be based in India, embezzled £3.9bn meant for nine large-scale infrastructure projects, including the construction of the Roopur Nuclear Power Plant in which Siddiq is allegedly implicated.
Syed Faruk, who runs the UK branch of Hasina’s Awami League party, told the BBC the claims were “fabricated”.
There is no suggestion Siddiq, who is MP for Hampstead and Highgate, is involved across the full scope of the investigation beyond her alleged role concerning the nuclear power deal struck in 2013.
Siddiq was first elected as an MP in 2015 in the neighbouring constituency to Prime Minister Keir Starmer, succeeding the Oscar-winning actress Glenda Jackson in the north London seat.
She quickly ascended through the Labour Party ranks, becoming shadow minister for children and early years under Jeremy Corbyn’s leadership in 2016, before being made shadow economic secretary to the Treasury three years ago.
A Labour source told City PM that Siddiq has not been contacted directly on the matter.