BSEC bans investors for gambling
The regulator has banned a number of investors and directors of listed companies as well as a corporate director from stock trading for their involvement in gambling in 12 shares.
The Bangladesh Securities and Exchange Commission (BSEC) also decided to freeze the accounts of the gamblers to prevent them from withdrawing money.
The decision came at a meeting at the BSEC building in Agargaon yesterday.
Monno Welfare Foundation, the corporate director of Monno Ceramic Industries Ltd and Monno Jute Stafllers Ltd, was involved in breaching the securities law, the commission said in a press release.
Now, the foundation will not be allowed to sell or buy any stocks until further legal steps are taken, it said.
Investors Biswajit Das and his wife, Shahadat Hossain, Md Saif Ullah, Md Shiraj, Ahsan Habib Chowdhury, and Lutful Goni Titu and his wife were found to be involved in gambling, so they have been barred from withdrawing and transferring money, and transferring shares through linked accounts.
However, the investors will be allowed to trade stocks in the secondary market.
The commission also found that Md Shamsul Huda, one of the directors of Alhaj Textile, breached laws by selling shares without any prior declaration and during a prohibited time. He has been banned from share trading.
The stocks of Monno Jute, Monno Ceramic and Alhaj Textile will be traded in the spot market, the statement said.
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