BSEC imposes record Tk 4.3 billion fine on 9 investors for Beximco share manipulation

The stock market regulator has fined nine investors of Beximco Ltd a record Tk 4.3 billion for manipulating the company’s stock prices during 2021 and 2022.

The Bangladesh Securities and Exchange Commission (BSEC) slapped the fine on them at a commission meeting held on Tuesday, according to a BSEC statement.

This is the first time a company’s investors have been fined such a big amount in the capital market’s history of Bangladesh.

They have been fined for Beximco share price manipulation between 2021 and 2022.

Of the investors, Mosfequr Rahman has been fined the highest Tk 1.25 billion, Crescent Ltd has been fined Tk 730 million, ART International Tk 700 million, Momatazur Rahman has been fined Tk 680 million in total, and Abdur Rouf has been fined Tk 310 million in total.

The regulator also fined Marjan Rahman Tk 300 million, Jupiter Business Tk 200 million, Apollo Trading Tk 150 million and Trade Next International Tk 50 million.

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