Staff Reporter :
The Bangladesh Securities and Exchange Commission (BSEC) yesterday fined Abul Khayer Hiru and his family members for manipulating more than Tk134 crore shares of Fortune Shoes, Delta Life Insurance, NRB Commercial Bank, and Sonali Paper and Board Mills.
His family members include his father, wife, and other relatives of DIT Cooperative Ltd which is owned by his family.
According to a press release issued by BSEC, they were fined the highest Tk77.21 crore for manipulating shares of Fortune Shoes; Tk50.84 crore for manipulating Delta Life Insurance Company shares; Tk6.84 crore for manipulating NRB Commercial Bank shares; and Tk75 lakh for manipulating Sonali Paper and Board Mills shares.
Previously, Abul Khayer and his family and associates were fined several
times for share manipulation. The commission fined Khayer Tk 11 crore, his wife Kazi Sadia Hasan Tk 25 crore, his father Abul Kalam Matber Tk 7.2 crore, and his companies, DIT Co-operative Ltd Tk 15 crore, Konika Afroze Tk 19 and crore Sajed Madbar Tk 1 lakh for manipulating shares of Fortune Shoes.
For violating securities law and manipulating shares Delta Life Insurance Ltd commission fined Khayer Tk 2.30 crore, his wife Kazi Sadia Hasan Tk 11 lakh, his father Abul Kalam Matber Tk 4.15 crore, and his companies, DIT Co-operative Ltd Tk 12 lakh, Konika Afroze Tk 1 lakh and Sajed Madbar Tk 1 lakh, Alia Begum Tk 1 lakh, Mohammad Basar Tk 1 lakh, and Tk 1 lakh to Monarch Holdings Limited.
However, Around Tk2.30 crore to Md Abul Khair, Md Abul Kalam Matbar Tk4.15 crore, Kazi Sadia Hasan Tk11 lakh, Konica Afroz Tk1 lakh, DIT Cooperative Limited Tk 12 lakh, Alia Begum, Mohammad Basar, and Sajid Matbar with a fine of Tk1 lakh each, and Monarch Holdings Limited also Tk 1 lakh for manipulating NRB Commercial Bank Limited’s share transactions.
Apart from this Md. Abul KhairTk1 lakh, Md. Abul Kalam Matbar Tk1 lakh Konica Afroz Tk 1 lakh, Kazi Sadia Hasan Tk 2 lakh, Kazi Farhad HasanTk 35 lakh, Kazi Fuad Hasan Tk 35 lakh for violating securities laws by manipulating the shares of Sonali Paper and Board Mills Limited.
Due to a deficit in the consolidated customer accounts of ANW Securities Ltd fined Tk 5 lakh.
All Managing directors of Sonali Paper and Board Mills Limited and every Managing director board are also fined Tk 20 lakh each for manipulating shares while Mahfuza Akther faces a fine of Tk 1 lakh with involvement of violating the law securities of Prime Finance First Mutual Fund.
