Detective Branch of Dhaka Metropolitan Police arrested three members of an organised gang in connection with the manipulation of the stock market by circulating misleading information through social media.
The arrestees were identified as Abdul Kaiyum, 39, Amir Hossain alias Nurnurani, 37, and Nurul Haque Harun, 52.
Deputy Inspector General of Police Harun-or-Rashid, who is also the head of the DB, made the discloser at a press briefing held at the DMP Media Centre in the capital on Saturday.
He said that on secret information, a team of DB Cyber and Special Crime (South), raided different areas of the capital on Friday night and arrested them. Additional deputy commissioner Saifur Rahman Azad led the special operation.
The DB chief said that the stock market is very sensitive place where many people invest money by selling all their belongings. “There is a lot of possibility for the investors to lose their money,” he added.
He also said Bangladesh Securities and Exchange Commission (BSEC) earlier filed a case with Ramna Police Station over the manipulation of the stock market.
In the case, the BSEC alleged that a group of people with vested interests had been influencing investors with false information.
The arrestees used secret groups on Facebook, Whatsapp, and Telegram to spread false and misleading information. These groups were providing false information related to the stock market.
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.
The DB chief warned of strict action against those who try to manipulate the stock market.