With the discovery of a shortfall of Tk 60 crore in its consolidated customers’ account, the Dhaka Stock Exchange (DSE) has filed a case against Banco Securities.
Those sort of accounts were meant to hold money which investors provide to a brokerage house to do trade on their behalf. Whatever transactions are made are supposed to add up in the balance.
A top DSE official stated that a case was filed with Motijheel Police Station on June 14 night.
Previously in the day, DSE halted Banco’ trading activities by deciding upon it at a board meeting.
A DSE investigation on the brokerage firm is ongoing.
The Bangladesh Securities and Exchange Commission (BSEC) received preliminary findings and the stock market regulator recommended halting the trading and filing a case.
BSEC also requested to inform the relevant government authorities to halt top officials of the firm from going abroad.
Previously on November 16, 2020, the BSEC stopped Banco from subscribing to the initial public offering of Robi Axiata on finding that it had got deals in advance for trading shares of Robi.