The Bangladesh Cricket Board (BCB) said it would investigate after Rangpur Riders player Jupiter Ghosh alleged Monday that team manager Sanuar Hossain had told him to fix match results just before the start of the tournament earlier this month.
He claims that he was dropped from the team when he refused to comply.
"The BCB is investigating complaints lodged by a cricketer of BPL 2016 franchise Rangpur Riders against an official of the same team," the BCB said.
The Rangpur Riders expelled Ghosh on disciplinary grounds on Monday after he went public with the allegations.
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The BCB has also suspended Ghosh and Hossain from the tournament while the investigation is conducted.
The BPL, modelled on the glitzy and lucrative Indian Cricket League (IPL), has been blighted by fixing rows ever since it began in 2012.
The tournament was suspended for a season in 2014 following revelations that former Bangladesh captain Mohammad Ashraful and four others including New Zealand's Lou Vincent were involved in fixing matches.
The BCB's anti-corruption officials have also thrown out at least four suspected bookmakers during the previous editions in an effort to ensure the tournament is corruption-free.
Seven franchises are playing in the current edition with several big names in international cricket, including Pakistan's Shahid Afridi, West Indies' Chris Gayle and Sri Lanka's Kumar Sangakkara taking part.
Afridi is leading the beleaguered Rangpur Riders, who currently lie fifth in the points table.