ACC sues BSEC ex-chair Shibli, 5 others for bribery
ACC Director General (prevention) Akhtar Hossain confirmed the matter today
The Anti-Corruption Commission (ACC) has sued former Bangladesh Securities and Exchange Commission (BSEC) chairman Shibli Rubayat-Ul Islam for accepting a bribe of Tk3.76 crore.
Monarch Holdings Chairman Javeed A Matin, Xin Bangla Fabrics owner Ariful Islam, and three Mutual Trust Bank officials have also been named as accused in the case.
According to the case statement, Shibli, who headed the stock market regulator BSEC since May 2020 and resigned days after the fall of the Awami League government in August last year, accepted Tk1.92 crore in bribes through a fraudulent house rent agreement.
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The money was transferred from Monarch Holdings to his personal bank account through four transactions, ACC Director General (prevention) Akhtar Hossain said during a regular press briefing at the corruption watchdog's headquarters in the capital today (5 February).
Additionally, the case accused Shibli, who was arrested on Tuesday night in the Dhanmondi area of the capital, of receiving Tk1.84 crore through fraudulent export transactions by fabricating a fake product sales contract.
The three other accused are Israt Jahan, first assistant vice president of Mutual Trust Bank; Iqbal Hossain, vice president and branch operation manager of the same bank; and Syed Mahbub Morshed, senior executive vice president of the Audit and Inspection Department and former branch manager of the bank.
The arrest comes days after the home ministry cancelled his passport, along with those of eight other former BSEC officials, on 29 January. The ministry also imposed a travel ban on them, preventing them from leaving the country.
Earlier, on 9 October 2024, a Dhaka court had also issued a travel ban on Shibli amid an ACC investigation against him on charges of amassing illegal wealth and money laundering.
Allegations have been raised regarding widespread manipulations in the capital market during Shibli's tenure.
Shibli, a member of the pro-Awami League Blue Panel at the University of Dhaka, resigned as BSEC chairman prematurely just five days after the fall of the Sheikh Hasina government, following a mass uprising on 5 August 2024.
