Shakib Al Hasan’s company involved in stock manipulation
News Desk || shiningbd
A DSE investigation found that Monarch Holdings Ltd, where cricketer Shakib Al Hasan is the chairman, was involved in share price manipulation.
The company's Managing Director Kazi Sadia Hasan, wife of controversial stock market player Abul Khayer Hiru, was also found being individually involved in stock manipulation.
The capital market regulator Bangladesh Securities and Exchange Commission (BSEC) recently fined the group of stock manipulators including Monarch Holdings and Kazi Sadia Hasan and some other family members and entities of Hiru.
Of the Tk3.55 crore fines, Tk3 crore was fined for One Bank share manipulation and the remaining was fined for BDcom share manipulation.
Shakib himself was one of the significant buyer-seller of One Bank shares during the said manipulation in November 2021 with making 1.84% of the total volume of the stock then.
However, BSEC investigation report did not categorically name him as a manipulator.