8 Bangladesh Finance share manipulators fined Tk70.57Cr
The penalties were imposed for violations that occurred between 1 April 2021 and 30 September 2021
The Bangladesh Securities and Exchange Commission (BSEC) has fined a group of eight investors Tk70.57 crore for manipulating the shares of Bangladesh Finance.
The decision was made during a meeting held at the commission's office on Tuesday (10 December), it said in a press statement.
It states that among the individuals, Sameer Sekander has been fined Tk32.25 crore, Maher Sekander Tk0.52 crore, Abu Sadat Md Sayem Tk21.90 crore, Abdul Mobin Mollah Tk0.10 crore, Afra Chowdhury Tk0.35 crore, Anika Farheen Tk7.50 crore
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Besides, City General Insurance Company has been fined Tk0.85 crore and Anwar Galvanizing Ltd Tk7.10 crore.
The penalties were imposed for violations that occurred between 1 April 2021 and 30 September 2021.
"This move reflects BSEC's strong stance against market manipulation and its commitment to maintaining transparency and fairness in the capital market," said the press statement.
On Tuesday, the share price of Bangladesh Finance closed at Tk12.50 on the Dhaka stock exchange.
1 April 2021, the share price of the company was Tk30, which increased gradually and reached at Tk70 the end of September 2021.
