A new Financial Times documentary, Bangladesh’s Missing Billions, Stolen in Plain Sight, alleges that around $234 billion was illicitly siphoned from Bangladesh during Sheikh Hasina’s 15 years as prime minister.

The film investigates how such an unprecedented outflow occurred, featuring protesters, business figures, experts, and politicians who question not only how the money left the country but also whether it can ever be recovered.

It opens by situating Hasina’s tenure within the broader political context, highlighting voices of student movement leaders Rafia Rehnuma Hridi and Rezwan Ahmed Refat. Contributions also come from FT South Asia bureau chief John Reed, former Bangladesh-based journalist Sujana Saviz (now FT’s agriculture and commodity correspondent), Spotlight on Corruption Deputy Director Helen Taylor, and Westminster lobby reporter Rafe Uddin.

A major focus of the investigation is the alleged role of Hasina’s family in foreign land purchases and offshore assets. Tulip Siddiq, Hasina’s niece and a UK Labour MP who recently served as a minister in the Starmer government, is cited in connection with high-value property holdings. Siddiq has denied the allegations, calling them politically motivated.

The documentary claimed money was laundered through over-invoicing, under-invoicing, informal networks like hundi (hawala), and extensive property acquisitions abroad, particularly in London. It highlights cases involving business conglomerates, bank takeovers, and state-linked contracts, suggesting a systemic pattern of extraction.

Experts, including Professor Mushtaq Khan of the School of Oriental and African Studies (SOAS) and former judges, caution that recovering these assets will be arduous, requiring years of legal, diplomatic, and forensic work. As one contributor notes: “You can steal billions, hire the best advisers, and hide assets carefully — but tracing them back demands painstaking international cooperation.”

The documentary argued that corruption, lack of transparency, and perceived impunity were key drivers of unrest in 2024, particularly among students. It concludes that Bangladesh’s status as a developing economy made it especially vulnerable to capital flight, while weak institutions failed to prevent or prosecute large-scale abuses of power.