The Bangladesh Securities and Exchange Commission (BSEC) today fined eight investors and one brokerage firm a total of Tk 1.20 crore for manipulating prices of two stocks.

The stock market regulator took the decision in a meeting held on its Agargaon office in the capital.

Imam Button Industries Managing Director ASM Hasib Hasan was fined Tk 1 crore for manipulating the price of the company's stocks.

For manipulating stocks of Karnaphuli Insurance Company, the BSEC fined Shahara Jaman and Ashfaquzzaman Tk 2.5 lakh each and City Bank Capital Resources, a subsidiary of City Bank, Tk 10 lakh.

For the same reason, Lutful Goni Titu, Md Mahmudul Hasan, Khairul Hasan Benju, Lutfunnahar Begum and Akikunnahar were fined Tk 1 lakh each, the BSEC said in a press release.