Shakib among 7 persons, companies fined Tk1.63 crore

Four persons, including Bangladesh cricket star Shakib Al Hasan and three companies have been fined Tk1.63 crore by the Bangladesh Securities and Exchange Commission (BSEC) over “share price manipulation” of Paramount Insurance Company.

Of the total amount, Shakib has been fined Tk50 lakh.

This decision was taken in the 923rd commission meeting of the BSEC held today (September 24) with BSEC Chairman Khondoker Rashed Maqsood in the chair.

The BSEC confirmed the matter in a press release issued today.

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, according to the BSEC press release.