The Bangladesh Securities and Exchange Commission (BSEC) has fined four individual investors, two companies, and two funds a total of Tk 60.21 crore for manipulating share transactions of the publicly listed company Orion Infusion Limited.
Among those penalized are Nurun Nahar, Chairman of Beacon Pharmaceuticals; Ebadul Karim, Managing Director and former Member of Parliament; and their daughter Risana Karim, Executive Director of Beacon Pharmaceuticals.
The decision to impose the fine was made at BSEC’s 935th commission meeting held on Tuesday (December 10), according to sources from BSEC.
Individuals Penalized:
Nurun Nahar Karim (Chairman, Beacon Pharmaceuticals): Tk 10 lakh
Mohammad Ebadul Karim (Managing Director, Beacon Pharmaceuticals): Tk 13.15 crore
Risana Karim (Director, Beacon Pharmaceuticals): Tk 6 crore
Mohammad Sohel Alam: Tk 18.40 crore
Ekhlasur Rahman: Tk 14.60 crore.
Companies and Funds Penalized:
Beacon Pharmaceuticals Limited: Tk 1 lakh
Beacon Medicare Limited: Tk 5.50 crore
Beacon Pharmaceuticals Employee Provident Fund (EPF): Tk 1.45 crore
Beacon Pharmaceuticals Employee Gratuity Fund (EGF): Tk 1 crore.
Mohammad Ebadul Karim, a recently dissolved Member of Parliament from the ruling Awami League, is the brother of Obaidur Karim, the owner of Orion Pharma and Orion Infusion.
mw/dhk/hk
