BSEC freezes 617 BO accounts

Ayub Ali :

The Bangladesh Securities and Exchange Commission (BSEC) has frozen a total of 617 beneficiary owner (BO) accounts due to various forms of misconduct and non-compliance in the capital market.

Speaking to The New Nation, BSEC spokesperson Abul Kalam stated that the actions were taken in response to court orders and requests from several government agencies regarding capital market irregularities.

He added that some accounts were frozen as part of the commission’s own disciplinary measures following internal investigations.

Commission sources revealed that the majority of the account freezing occurred after the fall of the Awami League government in August last year.

Among those affected are 33 influential individuals associated with the former administration.

A total of 127 accounts were registered under the names of their family members, relatives, or affiliated businesses, and are included in the 617 frozen accounts. Furthermore, 357 accounts were blocked based on requests from the Bangladesh Financial Intelligence Unit (BFIU), the Anti-Corruption Commission (ACC), and court directives.

An additional 109 accounts were frozen through BSEC’s own enforcement efforts, primarily on grounds of share manipulation.

Moreover, six accounts held by owners, directors, and CEOs of asset management companies were frozen following recommendations from a BSEC-initiated investigation committee.