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05th-Feb-2014

Spl Tribunal soon to try share manipulators

By STAFF REPORTER

The government is going to set up a 'Special Tribunal' soon for speedy disposal of 17 cases filed for share price manipulation, official sources said on Tuesday.
Bangladesh Securities and Exchange Commission (BSEC) filed these cases accusing 40 persons, who were believed to be the key actors behind the stock market manipulation in the year 1996, 2010 and 2011.
In 1996, fifteen cases were filed accusing 32 persons and two cases were filed against eight persons who were involved in the share market scandal in December 2010 and January 2011.
The main objective to set up the Tribunal is to clear the cases within shortest possible time and bring the market manipulators under the book, a senior BSEC official told The New Nation yesterday, preferring anonymity.
These cases were hanging for the last 17 years, he added.    
The official further said, "Once the Tribunal is constituted, it will ensure the trial of the accused persons of the share market scam."
The trial of these cases will be held under the law of Securities and Exchange 2012. Actors will place before the Tribunal and they will be punished accordingly, he added.
The Ministry of Law and Parliamentary Affairs has already started the process of appointing judges for the Tribunal also, he noted.