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The Financial Express

Bangladesh Bank freezes bank account of Banco Securities

| Updated: July 09, 2021 10:00:43


Bangladesh Bank freezes bank account of Banco Securities

The Bangladesh Bank has frozen the bank account of Banco Securities Limited, officials said.

The Bangladesh Financial Intelligence Unit (BFIU) of the central bank made the decision following a request from the Dhaka Stock Exchange (DSE).

The BFIU has also frozen some bank accounts of other companies owned by the directors of Banco Securities, they added.

The premier bourse earlier urged the BFIU to freeze bank accounts of 12 organisations allied to the directors of the scam-hit Banco Securities.

Earlier on June 15, the DSE suspended trading at Banco Securities and sued its owners for allegedly embezzling clients' funds worth around Tk 660 million.

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