The Bangladesh Securities and Exchange Commission (BSEC) has ordered the freezing of the beneficiary owner’s (BO) accounts for 20 investors linked to several former ministers and members of parliament. This decision, made in a meeting at the BSEC head office, means that while the individuals will retain their funds, they will be unable to make withdrawals during the freezing period.
The affected individuals include former Home Minister Asaduzzaman Khan Kamal and his family, former Foreign Minister Mohammed Hasan Mahmud and his family, former State Ministers Mohammad Ali Arafat and Zunaid Ahmed Palak, as well as former MP Mohiuddin Maharaj and former Land Minister Saifuzzaman Chowdhury Javed and his family. The BSEC’s action follows an investigation by the Bangladesh Financial Intelligence Unit under the Money Laundering Act of 2012, due to concerns about potential irregularities in the stock market.