Bangladesh’s top cricket star and former national team captain Shakib Al Hasan has been fined Tk 2.26 crore by the country’s capital market regulator for manipulating share prices of a listed company.

The penalty was imposed by the Bangladesh Securities and Exchange Commission (BSEC), which confirmed the action in its enforcement report for April, disclosed on Thursday (May 15).

According to the report, Shakib is among 13 individuals fined a total of Tk 29 crore for artificially inflating the share price of Sonali Paper & Board Mills Ltd, a company listed on the Dhaka Stock Exchange.

The BSEC identified irregular trading patterns by the accused over two consecutive phases, suggesting coordinated efforts to manipulate the market and mislead investors.

SMS/