The Bangladesh Securities and Exchange Commission (BSEC) has fined 12 individuals and institutions, including the much-discussed and criticized investor Abul Khair Hiru, for manipulating the shares of five companies listed on the capital market. The regulatory body BSEC has fined these individuals and institutions a total of Tk 135 crore for violating the securities law.
The notification said that these companies have been fined for violating the securities law due to manipulation in the transactions of shares of five listed companies and units of one mutual fund. From October 3, 2021 to October 26, 2021, Abul Kalam Matabar was fined Tk 72 million, DIT Cooperative Limited was fined Tk 15 million, Kazi Sadia Hasan was fined Tk 25 million, Konika Afroz was fined Tk 19 million, Md. Abul Khair was fined 11 crore and Sajid Matabar 1 lakh taka.
The commission meeting decided to fine Sajid Madabar 1 crore 60 lakh, Md. Bashar 1 crore 15 lakh, Md. Abul Khair 19 crore 15 lakh, Kanika Afroz 2 crore 90 lakh, Kazi Sadia Hasan 1 crore 90 lakh, Kazi Fuad Hasan 1 lakh, DIT Cooperative 8.4 lakh and Abul Kalam Matabar 22 crore 30 lakh taka for violating the relevant securities laws by manipulating the share transactions of Delta Life Insurance Company Limited from September 9, 2021 to October 26, 2021.
In addition, Md. Abul Khair was fined Tk 23 million, Abul Kalam Matabar Tk 41.5 million, Kazi Sadia Hasan Tk 11 million, Kanika Afroz Tk 1 million, DIT Cooperative Tk 12 million, Aleya Begum Tk 1 million, Mohammad Basher Tk 1 million, Monarch Holdings Limited Tk 1 million and Sajeda Matabar Tk 1 million for violating the relevant securities laws by manipulating share transactions in the listed company NRB Commercial Bank Limited from October 7, 2021 to October 27, 2021.
In addition, the commission meeting decided to fine Mahfuza Akhter Tk 12 million and Dewan Salehin Mahmud Tk 4 million for violating the relevant securities laws by manipulating unit transactions in the listed Prime Finance First Mutual Fund from November 23, 2023 to December 19, 2023.
