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Published : 20 May 2026, 03:17 PM
The Anti-Corruption Commission (ACC) has received a window of over two months to submit its investigation report into cricketer and former Magura-1 lawmaker Shakib Al Hasan, his mother Shirin Akter, and 13 others over stock market embezzlement, fraud and money laundering.
Dhaka Metropolitan Senior Special Judge Sabbir Faiz fixed Jul 27 for the submission after the anti-graft watchdog failed to deliver the probe findings on Wednesday, which was the initially scheduled deadline.
Aminul Islam, an assistant director of the ACC's court prosecution unit, confirmed the new timeline.
The other suspects in the case are Department of Cooperatives Deputy Registrar Abul Khair, his wife Kazi Sadia Hasan, Abul Kalam Matbar, Konika Afroz, Mohammad Bashar, Sajed Madbar, Aleya Begum, Kazi Fuad Hasan, Kazi Farid Hasan, Javed A Matin, Jahed Kamal, Humayun Kabir and Tanveer Nizam.
ACC Headquarters Assistant Director Sazzad Hossain filed the case as the plaintiff on May 17 last year.
Bangladesh's most celebrated all-rounder, Shakib won a seat in parliament from Magura-1 on the Awami League ticket in 2024.
He happened to be in Canada when the Awami League government was overthrown in August that year and has remained outside the country ever since.
A murder case was filed against him at Adabor Police Station that same month.
The ACC subsequently launched a probe into allegations of share market manipulation, involvement in banned gambling operations, gold smuggling, fraud against crab traders, match-fixing, and concealing assets in his election affidavits.
The case dossier claims that the accused formed an organised syndicate to manipulate the market through speculative, fraudulent and deceptive transactions across their interconnected beneficiary owner (BO) accounts.
By repeatedly buying and selling specific shares, the syndicate artificially inflated prices to lure ordinary investors, who ultimately suffered massive financial losses.
The group allegedly pocketed over Tk 2.56 billion through this scheme, masquerading the illicit proceeds as abnormal capital gains.
According to the ACC, Khair alias Abul Khair Hero laundered Tk 299.44 million from the stock market earnings by transferring the funds into different sectors with the assistance of his wife Sadia.
The case details also highlight “abnormal, irrational and suspicious transactions” totalling Tk 5.42 billion across 17 bank accounts registered under Khair’s name.
The investigation reveals that Shakib invested in Paramount Insurance Limited, Crystal Insurance Limited and Sonali Paper and Board Mills Limited -- shares that were actively manipulated by Khair.
The ACC asserts that Shakib actively participated in this market manipulation and deceived general investors into buying the rigged shares, liquidating Tk 29.50 million as realised capital gains from the market.
The capital market regulator, Bangladesh Securities and Exchange Commission (BSEC), had previously fined him Tk 5 million last September over these Paramount Insurance share price manipulation allegations.
At the time, the BSEC also fined Khair Tk 2.5 million, Eshaal Communication Limited Tk 7.5 million, Monarch Mart Limited Tk 100,000, Abul Kalam Tk 1 million, Lava Electrode Industries Tk 100,000 and Jahed Tk 100,000.
