The Anti-Corruption Commission (ACC) filed a case against former Bangladesh Securities and Exchange Commission (BSEC) chairman Shibli Rubayat Ul Islam and six others, accusing them of taking a bribe of Tk3.76 crore.

ACC Deputy Director (money laundering) Masudur Rahman filed the case with ACC’s integrated Dhaka District Office-1.

ACC Director General (prevention) Akhtar Hossain said this in a press conference at its headquarters at Segunbagicha in the capital on Wednesday.

The other accused include chairman of Monarch Holdings Javeed A Matin, owner of Xin Bangla Fabrics Ariful Islam, FAVP of Mutual Trust Bank Israt Jahan, vice president and branch operation manager of the same bank Iqbal Hossain and SEVP of the Audit and Inspection Department and former branch manager of the bank Syed Mahbub Morshed.

According to the case document, Shibli allegedly accepted a bribe of Tk1.92 crore through a fake house rent agreement.

This money was transferred from Monarch Holding, owned by Jaaved A Matin, to Shibli's personal bank account through four transactions.

Additionally, the case accused him of receiving Tk1.84 crore through fraudulent export transactions by fabricating a product sales contract from Xin Bangla Fabrics, bringing the total bribery amount to Tk3.76 crore.

Earlier on Tuesday night, the Detective Branch (DB) of police arrested Shibli from Dhanmondi area in the capital.

His arrest comes just days after the Ministry of Home Affairs cancelled his passport, alongside eight other former BSEC officials, on 29 January.

The ministry also imposed a travel ban on them, preventing them from leaving the country.

Earlier on 9 October 2024, a Dhaka court had also issued a travel ban on Shibli amid an ACC investigation against him on charges of amassing illegal wealth and money laundering.

Allegations have been raised regarding widespread looting in the capital market during Shibli Rubayat-ul-Islam's tenure.

Shibli, a member of the pro-Awami League Blue Panel at the University of Dhaka, quit his tenure as the BSEC chairman prematurely just five days after the fall of the Sheikh Hasina-led government in the face of a mass uprising on 5 August 2024.