Dhaka: The Anti Corruption Commission (ACC) today announced the filing of a case against former Bangladesh Cricket Team captain and ex-lawmaker Shakib Al Hassan, along with 14 others, on allegations of share market manipulation and money laundering.
According to Bangladesh Sangbad Sangstha, the ACC Director General, Md Akhter Hossain, revealed the details during a media briefing at the ACC headquarters located in the Segunbagicha area of the city. The case was filed by Sajjad Hossain, Assistant Director of the ACC headquarters.
The list of accused individuals includes Md Abul Khair (Hiru), Deputy Registrar of the Department of Cooperatives, and others such as Kazi Sadia Hassan, Abul Kalam Madbar, Konica Afroz, Mohammad Bashar, Sajed Madbar, Aleya Begum, Kazi Fuad Hassan, Kazi Farid Hassan, Shirin Akhter, Javed A Matin, Md Jahed Kamal, Md Humayun Kabir, and Tanvir Nizam.
According to the ACC, these individuals allegedly conspired to manipulate the stock market for personal gain by exploiting their power and engaging in criminal activities. They reportedly inflated the value of specific shares through illegal transactions, fraudulent trading, and speculation, deceiving general investors and causing significant financial losses.
The ACC's investigation found that the accused misappropriated approximately Taka 256,97,70,304. Of this amount, Abul Khair and his wife, Kazi Sadia Hassan, allegedly laundered Taka 29,94,42,185 by concealing the money's origin in their tax returns. Additionally, Abul Khair reportedly conducted suspicious transactions totaling Taka 542,31,51,982 through 17 bank accounts.
Shakib Al Hassan's involvement, as stated by ACC officials, involved collaborating with the primary accused, Abul Khair, in market manipulation activities, particularly in investments related to Paramount Insurance Limited, Crystal Insurance Limited, and Sonali Paper Mills Limited. Through these actions, Shakib reportedly withdrew and misappropriated Taka 2,95,02,915 under the guise of 'realized capital gain.'
The ACC proceeded with filing the case against the accused under several legal provisions, including section 4 of the ACC Act-2012, section 5(2) of the Corruption Prevention Act-1947, and sections 409/420/467/468/120(B) and 109 of the Bangladesh Penal Code.
Officials indicated that further legal actions would follow upon completing the final investigation into the case.