Chick Textiles officials convicted in 1996 share scam

Chick Textiles officials convicted in 1996 share scam

0

A Special Tribunal on Monday imprisoned two top officials of Chick Textiles for their share market scam of 1996.
Judge Humayun Kabir of the Special Tribunal sentenced Chick Textiles Managing Director Md Maksud Rasul and its director Iftekar Mohammad to four years’ imprisonment each. In the verdict of the case, filed over the 1996 share market scam, the convicts were also fined Tk 30 lakh each, in default they will have to suffer six months more in the prison.The special tribunal formed to deal with stock market scams, passed the order in absence of the accused.
Bangladesh Securities and Exchange Commission (BSEC) filed the case against the two on charges of manipulation and raising the stock prices on April 2, 1997.
The Commission filed a total of 15 cases over the 1996 share market scam.  –  Special Correspondent

Share.
Loading...

Comments are closed.