Court defers probe report on Shakib's alleged share market scam to 27 July

A Dhaka court today (20 May) fixed 27 July for the submission of the investigation report in a case filed against 15 individuals – including former Bangladesh cricket captain and ex-lawmaker Shakib Al Hasan – over allegations of share market manipulation, fraud and money laundering.

Dhaka Metropolitan Senior Special Judge Md Sabbir Faiz passed the order after the Anti-Corruption Commission failed to submit the probe report on the scheduled date, ACC official Akkas Ali told TBS.

The court had earlier fixed yesterday for submitting the probe report after the investigation officer failed to submit it on 3 March.

The other accused in the case are Deputy Registrar of the Department of Cooperatives Abul Khair, his wife Kazi Sadia Hasan, Abul Kalam Matbor, Kanika Afroz, Mohammad Bashar, Sajed Matbor, Aleya Begum, Kazi Fuad Hasan, Kazi Farid Hasan, Shirin Akter, Zaved A Matin, Jahed Kamal, Humayun Kabir and Tanvir Nizam.

According to the case statement, the accused colluded in a criminal conspiracy, abusing their power and violating existing laws and regulations regarding stock market investments.

They allegedly manipulated the market through illegal speculative trading, gambling, and spreading rumours, conducting multiple questionable transactions using their own beneficiary owner (BO) accounts to serve their personal interests.

Regarding Shakib's involvement, the statement says he invested in Paramount Insurance Ltd, Crystal Insurance Ltd, and Sonali Papers Ltd – companies whose shares were being manipulated by co-accused Md Abul Khayer. Through this investment, Shakib allegedly became complicit in the market manipulation scheme.

Investigators alleged that Tk256.97 crore was misappropriated through the activities, which they described as proceeds of crime.

ACC Assistant Director Sajjad Hossain filed the case on 17 June 2025 under the Prevention of Corruption Act.