Staff Reporter :
A Dhaka court has once again deferred the deadline for submitting the probe report in a high-profile case against former Bangladesh cricket captain and ex-MP Shakib Al Hasan, along with 14 others, over allegations of large-scale stock market manipulation, fraud, and money laundering.
Dhaka Metropolitan Sessions Judge Md Sabbir Foyez on Sunday fixed 26 November as the new date for submission after the Anti-Corruption Commission (ACC) failed to file the report within the stipulated time.
The case-filed on 17 May this year by ACC Assistant Director Sajjad Hossain accuses the defendants of artificially inflating share prices of selected companies through fraudulent trading practices, speculative activities, and gambling, ultimately causing massive financial losses to retail investors.
According to the complaint, the group siphoned off Tk256.97 crore, identified as “proceeds of crime.”
The accused include Deputy Registrar of the Department of Cooperatives Abul Khayer, his wife Kazi Sadia Hasan, and several business associates-Abul Kalam Madbar, Kanika Afroz, Mohammad Bashar, Sajed Madbar, Aleya Begum, Kazi Fuad Hasan, Kazi Farid Hasan, Shirin Akhter, Javed A Matin, Zahed Kamal, Humayun Kabir, and Tanvir Nizam.
Investigators allege that Abul Khayer concealed Tk29.94 crore with the assistance of his wife and laundered the funds through multiple channels, including cross-border transfers.
Probes also uncovered suspicious transactions worth a staggering Tk542.31 crore across 17 bank accounts linked to him.
Shakib Al Hasan, a household name in Bangladesh cricket and politics, has been implicated for his investments in Paramount Insurance Ltd, Crystal Insurance Ltd, and Sonali Papers Ltd-companies allegedly manipulated under Abul Khayer’s scheme.
Investigators claim Shakib’s transactions not only facilitated market manipulation but also allowed him to misappropriate Tk2.95 crore under the label of “capital gains,” at the expense of small-scale investors.
The case has drawn significant public attention as it combines financial crime, political influence, and celebrity involvement.
Market analysts warn that scams of this scale further erode investor confidence in Bangladesh’s capital market, already plagued by irregularities and lack of strong oversight.
If convicted under the Money Laundering Prevention Act and related securities laws, the accused could face hefty fines, asset seizures, and long prison terms.
