The Securities Exchange Commission Chairman Zafar Hijazi said that they have apprehended a group called stock guru- and the runner of this group Mir Mohammad Ali Khan. SECP chairman in Islamabad while briefing media told the participants that the Guru gave colossal loss to the investors. “The group was involved in speculation of shares and buying and selling shares through the name of his family members”, the chairman said.
Chairman Zafar Hijazi held a media briefing disclosing the SECP’s recent actions to unearth the nexus of insider traders and stock manipulators. He revealed the details/identities of persons involved in recent scam in which social media was being used to manipulate stock shares.
“SECP will request the government to place the name of Mir Mohammad Ali Khan on ECL as he made fraud and the authority has filed a case against him”, he said. And we have asked the session court and filed a criminal case against him.
SECP has improved the surveillance and chasing any will full element of the people involved at the capital market.
We have trained our staff to check any crime related to stock market and have trained around 21 people from the United States to improve the SECP stance.