Share price manipulation: Shakib Al Hasan fined Tk50 lakh

Bangladesh cricket star Shakib Al Hasan has been fined Tk50 lakh by the Bangladesh Securities and Exchange Commission (BSEC) over “share price manipulation” of Paramount Insurance Company. 

A total of Tk1.63 crore in fines was handed out to seven investors, including Shakib, in this matter, said a BSEC press release.

The others include Abul Khayer Hiru, who was fined Tk25 lakh, Eshaal Communication Limited fined Tk75 lakh, Abul Kalam Matber Tk10 lakh, Monarch Mart Tk1 lakh, Lava Electrode Industries Tk1 lakh and Zahed Kamal Tk1 lakh.

The BSEC confirmed the matter in a press release issued today (24 September). 

This decision was taken in the 923rd commission meeting of the BSEC held today.