A special tribunal has jailed two directors of a listed company on stock exchange for four years for share market manipulation in 1996.
The convicts are Md Maksud Rasul, managing director of Chick Textiles, and its director Iftekar Mohammad.
The tribunal also fined Tk30 lakh each of them. The convicts will have to serve six months more in prison in default of the fine, reports Bangla Tribune, a sister concern of Dhaka Tribune.
This is the maiden verdict of the 1996 share market scams.
Humayun Kabir, judge of the Special tribunal formed to settle the share market scams, handed down the verdict in absence of the convicts on Monday.
In April 2, 1997, Bangladesh Securities and Exchange Commission (BSEC) filed the case against the two on charges of share market manipulation.