Business Report :
The Bangladesh Securities and Exchange Commission (BSEC) has fined four investors – an individual and three firms – Tk1.70 crore for violating securities laws and rules and manipulating shares of Himadri Limited.
Md Rafiqul Bari and his firm M/S AR Traders were fined Tk1 crore, M/S Ovi Bricks Tk60 lakh, and Munir Traders Tk10 lakh, according to an order from the commission.
During an investigation by the Dhaka Stock Exchange (DSE), the four investors were found to have been involved in manipulating the share trading of Himadri Ltd from 27 April to 28 August 2023.
The commission directed the alleged the four investors to pay the fines within 30 working days. In case of failure to comply, the commission stated it would take the necessary actions according to the order published on its website on Thursday.