Stock market manipulation caught, criminal cases registered

Criminal cases were registered against those involved in stock market manipulation.

Criminal cases have been registered by the Securities and Exchange Commission of Pakistan (SECP). The people involved include sponsors and brokerage house management people.

In the investigation, it was proved that the named accused have manipulated the shares of 3 listed companies. The investigation also revealed that these individuals placed trading orders by inflating the share prices.

According to SECP, the accused kept buying and selling shares with each other. The persons involved also registered fake orders for purchase of shares.

The accused also misused customer accounts by placing and canceling purchase orders for shares. Under the Securities Act, market manipulation is punishable by up to 3 years in prison.

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