Three officials of Mark Bangladesh jailed
Three top officials of Mark Bangladesh Shilpa and Engineering Ltd have each been sentenced to five years in jail yesterday over a case filed for overvaluing assets during the company's initial public offering in 1996.
Passing the verdict, the special tribunal for the capital market also fined the company and each of the trio Tk 50 lakh, in default to serve a six-month prison sentence.
Of the convicts, Imam Mulkutur Rahman, chairman and managing director, had passed away although the tribunal made no mention of it.
The remaining two, Abdul Hye, vice chairman, and Salma Akter, director, are absconding.
The case was filed against the company and the trio with Dhaka Chief Metropolitan Magistrate Court in 2000 by the then deputy director of the Bangladesh Securities and Exchange Commission, Ahmed Hossain. The case was transferred to the tribunal on November 6, 2016. The tribunal issued arrest warrants for the trio on February 9, 2017.
Comments