Bangladesh Securities and Exchange Commission (BSEC) has fined several investors and institutions for their involvement in share manipulation.
However, BSEC affirmed, that the stock market has found evidence that the world’s best all-rounder Shakib Al Hasan, the goodwill ambassador of the capital market and investment education program, is not involved in this manipulation.
According to sources, the name of Shakib Al Hasan and his organization came in the report of the investigation committee formed to find those involved in the manipulation of several companies. However, Shakib and his company have been cleared of involvement in share manipulation.
According to the commission, many people are put on the suspect list for gathering information during the investigation process. But not all of them will be involved in manipulation. By multiple checks, those actually involved in share manipulation. They have been identified and fined. And the investigation has proved that some people including Shakib Al Hasan are not involved in share manipulation.
BSEC Executive Director and Spokesperson Mohammad Rezaul Karim told that a preliminary list was prepared of those who bought a certain amount of shares. Shakib Al Hasan’s name was there. But according to this preliminary list, when the investigation was conducted, Shakib Al Hasan’s involvement in the share manipulation was not found, so he was exonerated.
In response to a question, the spokesperson of BSEC said that Shakib Al Hasan is the goodwill ambassador of BSEC. Many media have presented news involving Shakib Al Hasan to gain readers. However, his involvement in share manipulation was not found in the investigation.
Meanwhile, Shakib’s family and the Bangladesh Cricket Board (BCB) are also embarrassed by the news of his involvement in the rigging. On Tuesday, September 13, Nazmul Hasan Papon addressed the media regarding the tri-series and T20 World Cup team plans in Mirpur. BCB boss was ‘shocked’ after hearing questions about Shakib’s involvement in share manipulation. He said, ‘What do you say! I do not know about this. Since it is not with cricket, now what do I do? I don’t know about this. If it was with cricket then there was talk.
It should be noted that BSEC nominated the world’s best all-rounder Shakib Al Hasan as a brand ambassador in September 2017 to enhance the image of the country’s capital market and inspire investors. The International Organization of Securities Commission (IOSCO) has requested to take famous politicians, professionals, sportspersons or celebrities of the country as goodwill ambassadors.
As part of this, the commission took Shakib Al Hasan as a goodwill ambassador. As a goodwill ambassador, he also invested in the capital market as he was eager to carry out the responsibility of a nationwide investment education program. Recently he bought the license of a share trading house called Monarch Holding. This is how Shakib got involved in the share business.
According to BSEC information, various individuals and their associates manipulated the share prices of 7 companies from mid-last year to March this year. Ordinary investors suffered huge losses. The investigation revealed that the manipulation circle made a profit of Tk 137 crore through these shares. Considering the overall aspect, the BSEC fined the accused person and their associates Tk 10 crore 89 lakh.
