Shakib Al Hasan fined Tk 50 lakh for share price manipulation in stock market

Bangladesh cricketer Shakib Al Hasan has been fined Tk 50 lakh for manipulating share prices, as confirmed by the Bangladesh Securities and Exchange Commission (BSEC).

Currently in India representing the Bangladesh national team, Shakib was found guilty of the allegations during a meeting held on Tuesday, presided over by BSEC President Khondoker Rashed Maqsood.

According to a BSEC press release, the fine was imposed for breaching the Securities Act by manipulating the share price of Paramount Insurance Company Ltd. Other individuals were also fined in connection with the matter.

This incident marks another setback for Shakib, who previously served in parliament under the government led by Sheikh Hasina, which was ousted by a student-led uprising in July-August of this year.

Additionally, Shakib has recently been implicated in a murder case. Case documents alleged that he was involved in ordering the killings of protesters during the student-led movement. However, he has not been convicted in court, nor has any arrest warrant been issued against him.