In a strict action against investors involved in gambling, the Bangladesh Securities and Exchange Commission (BSEC) has banned several investors including directors of listed companies from stock trading over their involvement in gambling in 12 shares.
Of those banned also include some corporate directors. While the investors are banned from stock trading in the country, Bangladesh Securities and Exchange Commission (BSEC) has also freezed the accounts of the gamblers so that they are not able to withdraw any money from their accounts.
The move to ban the investors and free gamblers accounts was decided at a Securities and Exchange Commission meeting in Agargaon.
Revealing the name of a corporate director, the Securities and Exchange Commission said in its press brief that Monno Welfare Foundation, the corporate director of Monno Ceramic Industries Ltd and Monno Jute Stafllers Ltd, was involved in violating the securities law.
Following the ban, the foundation is prohibited from buying or selling stocks until further notice and other legal procedures, the commission said.
Other investors involved in gambling are Biswajit Das and his wife, Shahadat Hossain, Md Saif Ullah, Md Shiraj, Ahsan Habib Chowdhury, and Lutful Goni Titu and his wife – they have all been restricted from trading stocks and also their accounts have been frozen so they cannot withdraw or transfer funds even through their linked accounts.