DMP arrests 3 for stock market manipulation

The Cyber ​​and Special Crime Division (South) of Dhaka Metropolitan Police (DMP) on Friday arrested three members of a gang involved in spreading rumours and manipulating the stock market through online and social media platforms.

DMP Chief Harun-or-Rashid, at a press conference on Saturday, said that a team of DB Cyber and Special Crime (South), led by Additional Deputy Commissioner Saifur Rahman Azad, conducted drives in different areas of the capital on Friday night and arrested three accused named Md Amir Hossain alias Nur Nurani, Nurul Haque Harun, and Abdul Kaiyum.

According to a police press release issued in this regard, the group has been opening secret groups on Facebook, WhatsApp, and Telegram to manipulate the stock market.

They have been providing false, fake, and fraudulent information against the Bangladesh Securities and Exchange Commission (BSEC), the organisation's chairman, and other important personalities to mislead general investors for their own vested interests.

Moreover, the arrestees often extorted money from the listed companies. If they did not pay, they started online propaganda against those companies. They even attacked the companies' offices.

According to the Bangladesh Securities and Exchange Commission Act, it is illegal to exchange information about the price of any share.

In this regard, BSEC, the regulatory body of the capital market, filed a case with Ramna Model Police Station. The Detective Branch of Dhaka Metropolitan Police investigated the case and arrested the 3 accused involved in the case.

The press release further said that the arrested accused Amir Hossain (using the pseudonym Nur Nurani) has 11 cases under the Explosive Substances Act and the Special Powers Act.