The person --Syed Md Anowar Hossain with same address and same signature -- used two different spellings of his name to apply for two lots of the Exim Bank shares, SEC said.

He won the lottery in both names -- Syed Md Anowar Hossen and Syed Mohammad Anowar Hossain -- and also got allotment of the shares by the bank.

After identifying the fraud the SEC issued an order to seize the stocks as well as the money deposited with bank for the purchase.

The SEC also instructed the Exim Bank to sell the shares at market price and deposit money with the 'Investors Protection Fund' of both Dhaka and Chittagong stock exchanges after reduction of the cost involved in their sales.

Under the existing rules and regulations, an applicant can submit only two applications, one in his/her own name and the other in joint names, for subscription of primary shares.