Published : 23 Sep 2026, 03:49 PM
Updated : 23 Sep 2026, 03:49 PM
The Anti-Corruption Commission has been given until Nov 17 to submit its investigation report in a case against former Bangladesh cricket captain Shakib Al Hasan and 14 others over alleged stock market manipulation, fraud and money laundering.
The report had been due on Wednesday, but the ACC failed to submit it.
Dhaka Metropolitan Senior Special Judge Shahjahan Kabir subsequently set the new deadline, according to Aminul Islam, an assistant director of the prosecution division.
The case was filed by ACC Assistant Director Sazzad Hossain on Jun 17, 2025.
It accuses Shakib, a former Magura-1 MP, and the other suspects of using beneficiary owner (BO) accounts linked to them to artificially inflate the prices of certain shares through what investigators described as “serial trading, fraudulent transactions, gambling and speculative trading”.
The ACC alleges that the scheme caused ordinary investors to lose large sums of money, while the accused misappropriated nearly Tk 2.57 billion.
The case statement describes the money as “proceeds of crime”.
Among the accused is Abul Khayer Hiru, a deputy registrar at the Department of Cooperatives.
The ACC alleges that Hiru, with the help of his wife Kazi Sadia Hasan, concealed the source of Tk 299.44 million and transferred the money to different sectors.
Investigators also allege that 17 bank accounts operated in Hiru’s name recorded unusual and suspicious transactions totalling Tk 5.42 billion.
The case identifies Paramount Insurance, Crystal Insurance and Sonali Paper among the companies whose shares Hiru is accused of manipulating.
Shakib’s Alleged Role
According to the ACC, Shakib also invested in shares of the three companies.
The commission alleges that those investments helped facilitate the manipulation and that Shakib misappropriated Tk 29.5 million from ordinary investors under the guise of “realised capital gains”.
The allegations have not been proven in court.
The other accused in the case are Kazi Sadia Hasan, Abul Kalam Madbor, Konika Afroz, Mohammad Bashar, Sazed Madbor, Aleya Begum, Kazi Fuad Hasan, Kazi Farid Hasan, Javed A Matin, Zahed Kamal, Humayun Kabir and Tanvir Nizam.
