BSEC fines Hiru, associates for IPDC share manipulation
The Bangladesh Securities and Exchange Commission (BSEC) has fined Deputy Registrar of Cooperatives Department Md Abul Khair Hiru and his associates Tk1.5 crore for manipulating the shares of IPDC Finance.
The commission took the decision at a recent regular meeting after as the charges against Abul Khair Hiru and his associates were proved.
Earlier in August this year, Abul Khair Hiru along with his associate wife Kazi Sadia Hasan, father Abul Kalam Matbar, sister Kanika Afroz, brother-in-law Kazi Farid Hasan, his company Monarch Holding, DIT Co-operative and Desh Ideal Trust were accused of manipulating the shares of BDCom Online, One Bank, Fortune Shoe, NRB Commercial Bank, Asia Insurance, Green Delta Insurance and Dhaka Insurance. BSEC fined a total of Tk 10.89 crore to the accused.
