Allegations that $5 billion was embezzled from Bangladesh’s Rooppur Nuclear Power Plant are being widely questioned, as key authorities have denied the claims and no solid evidence has emerged.
The allegation first appeared on August 17, 2024, in a report published by an unfamiliar online portal called Global Defense Corp. The report claimed that former Prime Minister Sheikh Hasina, her son Sajeeb Wazed Joy, and her niece Tulip Siddiq had siphoned off $5 billion from the project through Malaysian banks.
The report quickly spread in local media, leading to a writ petition in the High Court and an investigation by the Anti-Corruption Commission.
Doubts About the Source
Questions have been raised about the credibility of Global Defense Corp. The website, launched in 2018, has no widely recognized reputation for reliable investigative journalism. Major international media outlets such as Reuters, BBC, and Al Jazeera did not independently verify or publish the claim.
Rosatom Rejects the Allegation
Rosatom, the main contractor of the project, strongly denied the allegation within days. The company described the report as false and said it follows strict transparency and anti-corruption policies.
Rosatom also told Reuters that it is ready to take legal action to protect its reputation.
Financial Structure Makes Embezzlement Unlikely
Rosatom later explained that the project’s financing system does not allow such misuse of funds. Under Russian law, the loan money is not given directly to Bangladesh. Instead, payments are made by the Russian Ministry of Finance directly to Russian contractors in rubles for work and services.
This means there is no opportunity to divert large sums of money as claimed.
Russian Ambassador Calls It “False”
Russia’s Ambassador to Bangladesh, Alexander Mantytskiy, publicly dismissed the allegation, calling it “a rumor and false.”
No Evidence After Long Investigation
Even after more than a year, the Anti-Corruption Commission has not presented any clear evidence or final report. Experts note that a financial crime of this size would normally leave clear proof, such as bank records or transaction trails.
The $5 billion embezzlement claim started from a single unverified source and quickly became a major issue. However, strong denials from Rosatom and Russian officials, along with the lack of evidence and the project’s controlled financing system, have raised serious doubts about the truth of the allegation.
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