Probe six DSE officials’ irregularities: BSEC

The Bangladesh Securities and Exchange Commission (BSEC) ordered an inquiry into allegations of irregularities and corruption against six influential officials of the Dhaka Stock Exchange (DSE).

The BSEC on 21 April wrote to DSE Managing Director Tarique Amin Bhuiyan to submit a report by 30 June after taking steps for investigation against the officials.

The officials are DSE General Manager (GM) of Human Resource and Admin Department Samiul Islam, Company Secretary and GM Asadur Rahman, Chief Regulatory Officer (In-charge) Shafiqul Islam Bhuiyan, Public Relation and Publication Department's Deputy General Manager Shafiqur Rahman, Senior Managers Rony Islam and Md Pathan.

According to the BSEC letter, a complaint was lodged with the commission on 10 April against the six officials for their getting engaged in immoral activities.

The Business Standard has obtained copies of the letter and the complaint.

DSE Chairman Eunusur Rahman said the BSEC had sent a letter to the country's largest stock exchange to investigate irregularities and corruption by the six officials.

"We will, of course, investigate the allegations as directed by the BSEC," he added.

He said the DSE's managing director is on leave in Australia, adding the course of action will be decided upon his return.

However, BSEC spokesperson and Executive Director Md Rezaul Karim did not comment on the matter.

Asked about the allegations, Samiul Islam said, "I don't know anything about it."

The other defendants, however, declined to comment on the allegations.

According to the complaint lodged with the commission, Samiul is involved in share trading despite being banned as a DSE employee. He trades in shares by opening beneficiary owner (BO) accounts in the names of relatives and house help.

He also owns 50% of Crest Securities. Besides, he embezzled money while he was in charge of constructing a new DSE building in Nikunja and, with the money, built a six-storey building in the name of his wife in Uttara.

Asadur Rahman has been accused of abusing his power by doubling his salary while Shafiqur Rahman has been blamed for abetting Samiul and Asadur in committing irregularities and corruption.

According to the complaint, Shafiqul Islam Bhuiyan used to inspect brokerage firms only in name. And he would submit positive reports to the BSEC on the firms which had a negative balance in their consolidated customer accounts.

Besides, it has been alleged that Rony Islam and Md Pathan used to take money from customers for various services.

Meanwhile, the Anti-Corruption Commission (ACC) is investigating another DSE official, Deputy Manager Shahadat Hossain, for allegedly earning Tk50 crore through irregularities and corruption.