9 Individuals, Entities Fined 42.85Bn BDT for Share Manipulation of Beximco

Nine individuals and entities have been fined a total of 42.85 billion BDT due to allegations of share manipulation involving Bangladesh Export Import Company Limited (Beximco).

On Tuesday (October 1), the fines were imposed during the 924th commission meeting of the Bangladesh Securities and Exchange Commission (BSEC).

BSEC's Director and Spokesperson Farhana Faruqi confirmed the news in a press release.

The announcement stated that the fines were levied due to violations of securities laws stemming from share manipulation of Beximco.

The fines include 12.5 billion BDT for Mushfiqur Rahman, 3 billion BDT for Marzana Rahman, 5.8 billion BDT for Momtazur Rahman, 2.25 billion BDT for Jupiter Business, 7 billion BDT for ART International, 3.1 billion BDT for Abdur Rouf, and 7.3 billion BDT for Crescent Limited.