Sebon takes action against stockbrokers

January 10: Securities Board of Nepal (Sebon) has initiated action against a person involved in fake share  transaction of three hydropower companies along with the stockbroker companies involved in the crime and their chiefs.

Sebon took action against the accused Govinda Ghimire along with Agrawal Securities, Shreehari Securities and Siprabi Securities as well as their chiefs involved in the irregularity.

All of the accused have been charged of fake share transaction of three hydropower companies, namely Chilime Hydropower Company, National Hydropower Company and Sanima Mai Hydropower Company.

They have been charged under the Money Laundering Act 2064 and Securities Act 2063.

Sebon informed that it took action against the accused after being notified about the fake transaction taking place in the name of the concerned hydropower companies. The accused were allegedly involved in not furnishing the documents identifying the personal details of the customers involved in share transaction.