21 November 2025, 11:58:25

Staff Correspondent:

The Anti-Corruption Commission (ACC) has launched a wide-ranging investigation into alleged large-scale manipulation, fraud and money laundering in the country’s stock market. The prime accused in the case is Md Abul Khayer, a deputy registrar at the Department of Cooperatives, better known in the market as Hiru. The second accused is former member of parliament and former national cricket star Shakib Al Hasan.

According to the ACC case documents, Abul Khayer Hiru, in collusion with his associates, allegedly abused his official position and violated Section 17 of the Securities and Exchange Ordinance, 1969. He is accused of using his own BO (beneficiary owner) account to carry out fraudulent trades, gambling-style series trading and artificially inflating share prices to manipulate the market. Through this planned scheme, general investors were allegedly forced to incur heavy losses while about Tk 257 crore was embezzled.

The investigation further claims that Hiru laundered a portion of his illicit gains from the capital market through various channels with the assistance of his wife, Kazi Sadia Hasan. ACC officials say they have found evidence of money laundering involving Tk 29.90 crore as part of the scheme. In addition, suspicious transactions amounting to around Tk 542 crore have been detected in 17 bank accounts held in his name, or under his control.

Based on these allegations, a case was filed on 17 June under the Money Laundering Prevention Act, the Prevention of Corruption Act and several other related provisions.

As part of the ongoing probe, the ACC has summoned all 15 accused named in the FIR for questioning on 25 and 26 November. Shakib Al Hasan has been asked to appear at the ACC headquarters at 10:00am on 26 November to give his statement.

The ACC has also stated that, in addition to the share market manipulation case, a separate inquiry is under way against Shakib over allegations of accumulating wealth beyond known sources of income. He is scheduled to be questioned on both sets of allegations on the same day.

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