Tulip Siddiq faces new corruption investigation in Bangladesh
Anti-corruption minister Tulip Siddiq has been named by investigators in Bangladesh who allege she was involved in the illegal allocation of land to members of her family while serving as an MP.
Sky News has obtained an affidavit – or legal written statement – filed by the anti-corruption commission in Bangladesh that accuses Ms Siddiq and others of being involved in fraudulently obtaining plots in the diplomatic zone of a development near to the country’s capital Dhaka.
The document states: “While serving as a Member of the British parliament, it is known that [Ms Siddiq] exerted pressure and influence on her aunt, the former prime minister, to take measures for the allotment of plots in the same project in the names of her mother, Mrs Rehana Siddiq, her sister Ms Azmina Siddiq, and her brother Mr Radwan Mujib Siddiq.”
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Tulip Siddiq MP in 2019. Pic: Reuters
The director general of the Bangladesh Anti-Corruption Commission Akhtar Hossain told Sky News: “Tulip Siddiq and former prime minister of Bangladesh Sheikh Hasina misused… power to take the plot from the Purbachal New Town Project.”
Investigators allege that planning officials were bribed and pressured into fraudulently allocating land.
A Labour source said Tulip Siddiq totally refutes the claims and had not been contacted by anyone on the matter.
The source also said no evidence had been presented for the allegations.
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Tulip Siddiq is asked if she will step down but gives no indication one way or the other.
Tulip Siddiq had already been named in Bangladeshi court documents, also seen by Sky News, relating to alleged embezzlement from a nuclear power project in the country.
Labour sources suggested the accusations were not genuine.
That court claim was made by Bobby Hajjaj, a political opponent of Ms Siddiq’s aunt – the former Bangladeshi Prime Minister Sheikh Hasina.
Ms Hasina fled Bangladesh in August and resigned her post amid weeks of deadly protests.
The new government has since accused the previous Awami League administration of crimes and corruption while in office.
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Siddiq refers herself to ethics watchdog
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Tulip Siddiq has come under increasing pressure over her links to her aunt’s political party, with Sky News revealing she boasted about her connections to the Awami League in blog posts from 2008 and 2009.
The anti-corruption minister has also been found to have lived in several London properties with links to alleged allies of her aunt’s regime.
Tulip Siddiq (far left) with her aunt, Sheikh Hasina (third left), and Russian President Vladimir Putin at a 2013 signing ceremony in the Kremlin as Moscow lent $1.5bn to help build a nuclear power station. File pic: AP
Conservative leader Kemi Badenoch has since called for her to be suspended as a minister.
The UK Anti-Corruption Coalition has also said Ms Siddiq should step aside from the money laundering and economic crime brief she currently holds.
“The clear conflict of interest surrounding Tulip Siddiq presents a key test for the new government… as anti-corruption experts, it is clear to us that she should not hold responsibility for these sensitive areas in her portfolio”, said Peter Munro, senior coordinator at the anti-corruption coalition.
Hester Peirce, a commissioner of the United States Securities and Exchange Commission (SEC) and head of the SEC’s Crypto Task Force, reaffirmed the right to crypto self-custody and privacy in financial transactions.
“I’m a freedom maximalist,” Peirce told The Rollup podcast on Friday, while saying that self-custody of assets is a fundamental human right. She added:
“Why should I have to be forced to go through someone else to hold my assets? It baffles me that in this country, which is so premised on freedom, that would even be an issue — of course, people can hold their own assets.”
Peirce added that online financial privacy should be the standard. “It has become the presumption that if you want to keep your transactions private, you’re doing something wrong, but it should be exactly the opposite presumption,” she said.
The comments came as the Digital Asset Market Structure Clarity Act, a crypto market structure bill that includes provisions for self-custody, anti-money laundering(AML) regulations, and asset taxonomy, is delayed until 2026, according to Senator Tim Scott.
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Exchange-traded funds (ETFs) challenge Bitcoin’s self-custody ethos
Many large Bitcoin (BTC) whales and long-term holders are pivoting from self-custody to ETFs to reap the tax benefits and hassle-free management of owning crypto in an investment vehicle.
“We are witnessing the first decline in self-custodied Bitcoin in 15 years,” Dr. Martin Hiesboeck, the head of research at crypto exchange Uphold, said.
Hiesboeck attributed the shift to the SEC approving in-kind creations and redemptions for crypto ETFs in July, which allowed authorized holders to exchange crypto for ETF shares and vice versa without triggering a taxable event, unlike cash-settled ETFs.
“A move away from the self-custody mantra of ‘not your keys, not your coins’ is another nail in the coffin of the original crypto spirit,” Hiesboeck added.
In February, notable Bitcoin analyst and investor PlanB, the developer of the BTC stock-to-flow model, announced that he transferred his Bitcoin to ETFs to alleviate the “hassle” of private key management.
PlanB’s announcement caused an outcry in the Bitcoin community, as many voiced concerns that handing over custody to a third party clashed with Bitcoin’s core values.
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Jeremy Corbyn has declined to say his Your Party co-founder Zarah Sultana is a friend as supporters of the new grouping gather in Liverpool.
Speaking to Sky News on the eve of the conference, Mr Corbyn acknowledged “stresses and strains” in the set-up of the party but said it had become “a lot better in the last few days and weeks and we’re going to get through this weekend”.
The former Labour leader has publicly clashed with Ms Sultana, the MP for Coventry South, over the launch and structure of the new party.
Asked if they were friends, Mr Corbyn said they were “colleagues in parliament, and we obviously communicate and so on”.
The pair appeared at separate events on the eve of the party’s inaugural gathering.
Ms Sultana had previously claimed she was being “sidelined” by a “sexist boys’ club” within the fledgling party.
Mr Corbyn said her comments were an “unfortunate choice of words” but added that he had been more involved in the organisation of the conference than she had.
The co-founders have had a strained relationship since setting up the party. Pic: Your Party
The Islington North MP also said that Your Party was still waiting for Ms Sultana to transfer all of the funds she had raised from supporters.
“Obviously having money up front for a conference is a big help,” he said.
Ms Sultana has insisted she is transferring the donations in stages.
The weekend gathering in Liverpool will see supporters choose between four options for a permanent party name: Your Party, Our Party, Popular Alliance, For the Many.
The preferred choice of Ms Sultana – The Left – did not make the ballot.
Similarly, the Coventry MP had said she favoured a co-leader approach, but members will only be able to pick between single leadership or collective leadership models.
Speaking at her own pre-conference rally, Ms Sultana blamed a “nameless, faceless bureaucrat” for restricting the choices.
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The meeting also risked being disrupted by a series of member expulsions. One of those ejected, Lewis Nielsen, accused a “clique” of trying to “take over”.
Your Party sources said expulsions related to members of the Socialist Workers Party and that holding another national party membership was not allowed.
Ms Sultana blamed a “culture of paranoia at the top” and said she believed the same people who had been briefing against her were now also expelling members.
Mr Corbyn will open the conference on Saturday, while the results of the main decision-making votes will be announced on Sunday.
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