Three jailed for share market manipulation

Staff Correspondent | Published: 18:11, Jun 24,2018


A file photo shows investors protesting at the relentless falls in share prices during the market crash in 2011. — New Age photo

The Special Tribunal on capital market-related cases on Sunday sentenced five-year imprisonment to three top officials of Mark Bangladesh Shilpa and Industries Limited in a case of stock market manipulation in 2000.

The tribunal judge Akbar Ali Sheikh pronounced the verdict on the day in absence of the accuse, legal counsel of Bangladesh Securities and Exchange Commission  Masud Rana told New Age on Sunday.

The three accused are — Mark Bangladesh Shilpa and Industries chairman and managing director Imam Mulkutur Rahman, its vice-chairman Abdul Hai and director Salma Akhter.

Besides, the three accused along with the company will have to pay Tk 50,000 fine each. The three will have to bear another six month imprisonment for none payment of fine.

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