Criminal cases filed against four ‘share price manipulators’

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has filed four criminal complaints against individuals involved in manipulating stock prices, including sponsors and brokerage house management. The complaints filed at the Banking Offence Court Lahore against the accused individuals have been admitted. The cases have been filed after the investigations by the Supervision Department of the SECP. The investigations were conducted after the initial inquiry revealed that the accused gained significant profits by manipulating the share prices of three listed companies in 2019, 2020, and 2021. The investigations established that these individuals placed high-priced orders and traded with one another to artificially raise the share prices of specific stocks.