2024-06-03 12:18:50
The Bangladesh Securities and Alternate Fee (BSEC) has ordered an investigation into the varied problems with First Shares and Bonds Restricted, a brokerage home as soon as owned by MA Khalek, accused within the cash laundering case. An investigation committee of 4 members has been constituted for this objective. The constituted committee has been directed to submit an investigation report back to the BSEC inside the subsequent 60 working days after wanting into whether or not there was any deficiency, misappropriation of cash, irregularities and manipulation as built-in prospects of the establishment.
In accordance with the BSEC sources, an order on this regard has been issued just lately.
The instructions of the BSEC have referred to as for an inquiry into 9 issues. These are – money and securities data of all buyer accounts, consolidated buyer account balances, assertion of all buyer shares held with CDBL, paid up capital of the corporate, quantity of unfavorable fairness and what number of prospects it belongs to, administration and board administrators, debt and taxes towards the corporate. It’s requested to inquire whether or not there’s any pending motion or any earlier motion taken, opinion on the viability of the establishment and some other issues.
The members of the investigation committee are – Extra Director of BSEC Mollah Md. Miraj-us-Sunnah, Deputy Director Sultan Salah Uddin, Assistant Supervisor of CDBL. Muzaffar Mahmood and a chosen officer of the Dhaka Inventory Alternate (DSE) have been ordered to conduct an inquiry into the matter.
The directive mentioned, the Fee is of the view that it’s essential to conduct an inquiry into the mentioned matter within the curiosity of the capital market and normal traders. Subsequently, beneath the powers given within the Securities and Alternate Ordinance, the fee is instructing the 4 individuals to analyze these issues.
On the finish of June 2018, DSE obtained details about the unlawful use of funds from the consolidated buyer accounts of 18 brokerage homes. On this, Far East had a deficit of Tk 1 crore 13 lakh. Fareast Shares once more utilized for added time in February 2023 because the interval for making up the shortfall has expired. At the moment the corporate bought 5 months time.
MA Khalek was the Chairman of Far East Shares and Bonds Restricted. He was an entrepreneur. Khalek constructed many establishments together with universities, banks, insurance coverage, securities corporations. He held varied positions together with the chairman of those establishments. It’s alleged towards him that he embezzled about 1 thousand 300 crore taka by utilizing that chance.
Allegedly, since 2010, he began withdrawing cash from varied establishments. Then in 8 years he grabbed 1 thousand 283 crore taka.
Then on January 30, 2023, in a case beneath the Prevention of Cash Laundering Act, the CID suspended the seizure order of the courtroom on the Tk 150 crore home of MA Khalek in Baridhara, Dhaka. At the moment, it’s mentioned that the CID was investigating the allegation of embezzlement of Tk 516 crore towards him.
Then on April 4, 2023, CID filed a case towards Khalek and 17 individuals on fees of embezzlement and trafficking of Tk 116 crore. Within the assertion of that case, it’s mentioned that from September 6, 2009 to February 25, 2019, MA Khalek himself and his associates together with relations transformed the cash into wealth and smuggled it overseas.
The opposite accused within the case are – former CEO of the group Tarafdar Jahangir Alam, former CFO Zahidul Haque, MA Khalek’s spouse Sabiha Khalek, son Shahriar Khaled Russo, daughter Sharwat Khaled, son-in-law Tanvirul Haque and father-in-law Fazlul Haque and Abul Kashem Molla, Rashed Mohammad Mazharul, Khashruba Sultana. Artists, Sheikh Yusuf Ali, Mahbooba Sultana, Dilruba Sultana, Nazrul Islam, Mizanur Rahman Mostafa and Kazi Shahriar. CID will examine the case. Among the many accused, MA Khalek and Nazrul Islam have been arrested at the moment.
It’s identified that varied traders deposited checks or money of Tk 89 crore 4 lakh 56 thousand 397 in Far East Shares and Bonds Restricted. Though the cash was proven as BO of the traders, it was not deposited because the financial institution of the corporate. That’s, misappropriation has been performed by displaying faux deposits. Other than this, the traders involved with the pursuits of the defendants deposited checks totaling Tk 13 crore 24 lakh at varied occasions. However checks are dishonored as a result of varied causes (inadequate endorsement, mismatch of signatures, improper writing of quantity and so on.), which is proven as reversal entry (deposit).
In the meantime, it’s alleged that the accused have conspired with one another to embezzle 13 crore 50 lakhs by placing 36 crores 36 lakhs 41 thousand 125 takas as an alternative of twenty-two crores 86 lakhs 41 thousand 125 takas within the sum of the corporate’s accounts.