British Financial Services Minister Tulip Siddiq Resigns Amid Corruption Allegations

British Minister for Financial Services Tulip Siddiq resigned on Tuesday following weeks of scrutiny over her financial ties to her aunt, Sheikh Hasina, the former prime minister of Bangladesh. Siddiq, 42, denied any wrongdoing but acknowledged her position could become a distraction to the government. While the ethics adviser cleared her of breaching the ministerial code, he noted her lack of vigilance regarding the reputational risks posed by her family’s associations.

Siddiq’s resignation comes as Prime Minister Keir Starmer faces political pressure following the departure of a second minister in two months. Starmer swiftly replaced Siddiq with former pensions minister Emma Reynolds. The resignation is linked to allegations of corruption and money laundering involving Hasina, who was ousted in 2023. Bangladeshi authorities claim financial irregularities tied to infrastructure projects and a $12.65 billion nuclear power contract may have benefited Siddiq’s family.

Documents revealed Siddiq lived in a property gifted by a lawyer associated with Hasina and acquired another from a developer linked to the Awami League. Bangladesh’s interim government, led by Muhammad Yunus, vowed to recover stolen funds and urged Siddiq to seek forgiveness for her actions. Despite Siddiq’s denials, her ties to properties and financial transactions connected to Hasina remain under investigation.

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