# Sheikh Hasina's regime looted trillions from the stock market

> According to a draft of the White Paper on the state of the economy, trillions of takas were embezzled from the stock market through fraud, manipulation, share placements, and deceit in the initial public offering (IPO)…

Published: 2024-12-03 · Desk: Latest · Source: The Business Standard

According to a draft of the White Paper on the state of the economy, trillions of takas were embezzled from the stock market through fraud, manipulation, share placements, and deceit in the initial public offering (IPO) process during Sheikh Hasina's government.

On December 1, the White Paper committee submitted its report to Chief Adviser Professor Muhammad Yunus at his Tejgaon office in Dhaka. The committee, led by renowned economist Debapriya Bhattacharya, presented the findings.

The White Paper highlights that excessive government control stifled market development, preventing responsible institutions from fulfilling their duties. It also points out that the dominance of vested interests led to a deeply rooted culture of fraud and gambling. The report states that laws, rules, and regulations were systematically undermined, allowing weak and substandard companies to enter the market through flawed IPO processes.

Original reporting: https://www.tbsnews.net/economy/stocks/trillions-takas-embezzled-stock-market-1007096?amp&fbclid=IwY2xjawG7dzRleHRuA2FlbQIxMAABHQ1HZejOQZiQr3fHDnBVTcQOwPmQvG-T8XRsQ6vJZcEOUt09Iw8XNR0FPQ_aem_LtvciVc-KR09IYCe9hXFqA
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