A Dhaka court on Sunday set a new date of 26 November for the submission of the investigation report in a case involving share market manipulation, fraud, and money laundering.
The case, filed against Bangladesh’s former national cricket team captain and former Member of Parliament Shakib Al Hasan, along with 15 other individuals, was originally scheduled for report submission on 21 September.
However, since the Anti-Corruption Commission (ACC) failed to submit the report, Dhaka Metropolitan Senior Special Judge Sabbir Fayez deferred the submission to the new date.
The other accused in the case include Abul Khayer Hiru, an official from the Cooperative Department, his wife Kazi Sadia Hasan, Abul Kalam Madobar, Konika Afroz, Mohammad Bashar, Sajed Madobar, Aleya Begum, Kazi Fuad Hasan, Kazi Farid Hasan, Shirin Akter, Javed E Motin, Zahed Kamal, Humayun Kabir, and Tanveer Nizam.
The case was filed on 17 May by Sajjad Hossain, Assistant Director of the ACC.
The case alleges that the accused manipulated the share market through illegal series transactions, fraudulent active trading, manipulation, and speculation using their related Beneficiary Owner (BO) accounts.
According to ACC case documents, the artificial inflation of certain stock prices led to significant financial losses for general investors.
A total of nearly Tk 257 crore was embezzled, classified as ‘illegally obtained money’. Of this amount, Abul Khayer, with the assistance of his wife Kazi Sadia Hasan, allegedly transferred Tk 29.94 crore to various accounts.
Further investigations revealed that 17 bank accounts associated with Abul Khayer recorded abnormal and suspicious transactions amounting to over Tk 542 crore.
The case also alleges that Abul Khayer was involved in share market manipulation involving stocks such as Paramount Insurance, Crystal Insurance, and Sonali Papers, in which Shakib Al Hasan had invested.
This manipulation allegedly helped Shakib Al Hasan gain over Tk 2.9 crore from the stock market.
