Stock market embezzlement: Shakib Al Hasan and 15 others delay investigation report submission

The time for submitting the investigation report of 15 people, including former national cricket team captain and former MP Shakib Al Hasan, in the case filed on charges of embezzlement and illegal acquisition of wealth in the stock market has been postponed again. Today, Monday (July 27), Dhaka Metropolitan Senior Special Judge Court Judge Shahjahan Kabir set a new date for submitting the report to September 23. The court set this new date after the investigative agency Anti-Corruption Commission (ACC) was unable to complete the investigation work on time, confirmed Aminul Islam, Assistant Director of the Prosecution Department of the ACC. It is worth noting that after the case was filed on May 17 last year, a ban was imposed on Shakib to leave the country.

According to the statement of the case filed by the ACC, the accused used their BO accounts in collusion to artificially increase the share prices of certain companies in the stock market. Through this, a huge amount of money was embezzled by luring ordinary investors and later selling those shares. The initial investigation found specific evidence of embezzling about 256 crore 97 lakh taka against this group, which has been identified as a major manipulation in the country's capital market.

The investigation into the case shows that Shakib Al Hasan had invested a large amount of money in companies like Paramount Insurance, Crystal Insurance and Sonali Paper through Abul Khair Hiru, the mastermind of this manipulation. It has been alleged that Shakib withdrew 2 crore 95 lakh taka from this unethical process and embezzled it in the name of Capital Gain. In addition, information has been found about unusual and suspicious transactions worth hundreds of crores of taka in the bank accounts of the main accused in the case, which is under investigation by the legal network of preventing money laundering.

In addition to Shakib Al Hasan, several officials and influential people have been accused in this corruption and stock market manipulation case committed by the group. The list of accused includes Abul Khair, Deputy Registrar of the Cooperatives Department, his wife Kazi Sadia Hasan, Abul Kalam Madbar, Kanika Afroz, Mohammad Bashar, Sazed Madbar, Aleya Begum, Kazi Fuad Hasan, Kazi Farid Hasan, Javed A Matin, Zahed Kamal, Humayun Kabir and Tanvir Nizam. Currently, the Anti-Corruption Commission (ACC) is preparing the final report of the case through an impartial and impartial investigation.