Special tribunal for the capital market in its first verdict yesterday handed down two years term in prison to Mahbub Sarwar for disseminating false information through social media facebook.
The special tribunal, led by justice Humayun Kabir, found him guilty after hearing arguments from both plaintiff, Bangladesh Securities and Exchange Commission, and convict Sarwar.
According to the verdict, Mahbub Sarwar misled investors by posting confusing information on the facebook, which is a punishable offence and the BSEC probe report against him (Sarwar) is true. And police investigation against him has also been proved.
In its case filed in 2010, the BSEC alleged that Sarwar spread false information through facebook and different blogs from March 2007 to March 2010, destabilising the stock market and misleading many general investors.
This is the first verdict of the special tribunal for the capital market that began its judicial functions to quickly dispose of stock market related cases in mid-2015.
The court had began activities by hearing the case against Sarwar, which was filed by Bangladesh Securities and Exchange Commission in 2010 with Gulshan police station.
