DSE suspends Banco Securities' trading for Tk60 crore embezzlement

The securities regulator will further ask the concerned bodies of the government to put a travel ban on the brokerage firm's top officials

TBS Report

15 June, 2021, 09:40 am

Last modified: 15 June, 2021, 10:04 am

Photo: Collected.

The Dhaka Stock Exchange (DSE) has decided to suspend the trading of its member Banco Securities Limited from Tuesday for the embezzlement of Tk60 crore.

It will also file a case against the brokerage firm as well as its chairman and directors, the prime bourse decided at its board meeting held on Monday.

After investigating the account of the brokerage firm, DSE detected a Tk60 crore shortfall in the consolidated customer accounts and other anomalies, DSE officials said.

The securities regulator will further ask the concerned bodies of the government to put a travel ban on the brokerage firm's top officials.

Abdul Muhith is the chairman of the brokerage firm. He is also director of Banco Finance and Investment Ltd., Banco Securities Ltd., Summit Properties Ltd., Millenium Fisheries Limited, International Medical College, Tongi and Sylhet Shishu Park Ltd and Amulet Pharmaceuticals Ltd.

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