Dhaka, September 22, 2025: A court in Dhaka has rescheduled the submission date for the investigation report in a case against former Bangladesh national cricket team captain and former Member of Parliament, Shakib Al Hasan, and 14 others. The case involves allegations of stock market manipulation, fraud, and money laundering. The new date for the report submission has been set for November 26.
Dhaka Metropolitan Senior Special Judge Sabbir Faiz set the new date on Sunday (September 21), as the investigating officer from the Anti-Corruption Commission (ACC) failed to submit the report on time. The court granted the extension based on the ACC’s application.
The Accused
Besides Shakib Al Hasan, the other defendants in the case are:
- Abul Khair (Hiru), Deputy Registrar of the Department of Cooperatives
- Kazi Sadia Hasan (his wife)
- Abul Kalam Madbar
- Konika Afroze
- Mohammad Bashar
- Sajed Madbar
- Alea Begum
- Kazi Fuad Hasan
- Kazi Farid Hasan
- Shirin Akhter
- Javed A. Matin
- Zahed Kamal
- Humayun Kabir
- Tanvir Nizam
The lawsuit was originally filed on May 17 by ACC Assistant Director Sajjad Hossain at the ACC’s head office.
Allegations
According to the case files, the defendants allegedly engaged in illegal series transactions, fraudulent active trading, gambling, and speculation through their beneficiary owner (BO) accounts to artificially inflate the prices of specific shares. This market manipulation defrauded general investors, causing them to lose significant amounts of money.
The total amount embezzled through these activities is reported to be BDT 256 crore 97 lakh 70 thousand 304.
Specifically, Abul Khair (Hiru) and his wife Kazi Sadia Hasan are accused of concealing the source of BDT 29 crore 94 lakh 42 thousand 185 and transferring it to various sectors. Investigations also revealed abnormal and suspicious transactions totaling BDT 542 crore 31 lakh 51 thousand 982 in 17 bank accounts operated under Khair’s name.
The complaint further states that Shakib Al Hasan invested in shares of Paramount Insurance Ltd., Crystal Insurance Ltd., and Sonali Papers Ltd., which were manipulated by Abul Khair (Hiru). By doing so, Shakib allegedly directly assisted in market manipulation, embezzling BDT 2 crore 95 lakh 2 thousand 915 from general investors in the form of “realized capital gains.”
