The Metropolitan Police stressed that no investigation has been launched yet and that the issue has been referred to its "Special Enquiry Team" after it received a letter in relation to the allegations which appeared in the 'Sunday Mirror'.
"Following allegations in the 'Sunday Mirror' on Sunday, September 4, concerning a Member of Parliament, the Metropolitan Police Service can confirm a letter was received on Wednesday, September 7, requesting police consider the matter," a Met Police statement said.
Earlier this week, the 59-year-old influential lawmaker had resigned from his post as chair of the House of Commons Home Affairs Select Committee in the wake of the sex scandal.
His resignation followed allegations published by the tabloidthat the married, father of two, had met two male escorts from eastern Europe at his north London flat last month.
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In the wake of the revelations, Tory MP Andrew Bridgen had indicated that he would be writing to Scotland Yard calling for Vaz to be investigated for misconduct in a public office and conspiracy to supply controlled substances.
Vaz, Leicester East MP for Labour since 1987, has referred the allegations to his lawyer and has indicated that he intends to remain an MP and a member of Labour's National Executive Committee.