The Bangladesh Securities and Exchange Commission (BSEC) has fined investor Shahadat Hossain and his 14 associates Tk 532.5 million for their involvement in the stock manipulation of Orion Infusion Limited, a company listed in the pharmaceutical and chemical sector. Those involved in the stock manipulation of the company made a series of unethical transactions using 20 beneficial owners (BO) accounts.

Recently the new commission led by Khandkar Rashed Maqsood of BSEC has taken such decision. This information is known from the BSEC source.

It is known that the price of Orion Infusion shares was increased by manipulation from November 29, 2023 to February 19, 2024. The BSEC investigation has revealed that Shahadat Hossain and his associates, led by him, opened multiple BO accounts and exploited profits through series trading by abnormally increasing the price. There have been rumors in the capital market for several years that Shahadat and his associates have manipulated the shares of Orion Infusion. Finally, the BSEC, subject to investigation, has identified and punished those involved in the company’s share manipulation.