Controversial and indecisive Khairul Bashar Abu Taher Mohammad is the Chief Regulatory Officer (CRO) of Dhaka Stock Exchange (DSE), the country’s main stock market. Investors lost Tk 161 crore due to non-verification of Moshiur’s securities despite the responsibility of this CRO. That is why the investors of the brokerage house arrested him and went to DSE with the police.
The incident took place on Monday (November 11) at the DSE building in Nikunj.
Earlier, the commission led by Khandkar Rashed Maqsood condemned Khairul Bashar on September 23 due to the failure of Moshiur Securities.
It is known that Mashiur Securities embezzled Tk 161 crore from investors due to Khairul Bashar’s failure. Out of this, shortfall in customers’ consolidated account (CCA) is Tk 685.8 million and shares have been sold for Tk 92.35 million. This is the biggest fraud by a single brokerage house in the history of the country’s stock market.
6-7 investors who had invested through that brokerage house took the policemen to DSE on Monday. They tried to arrest Bashar. They claim that they have suffered a huge loss today because of Bashar. If he had not stopped the investigation in the brokerage house by taking bribes or given proper investigation report, then the officials of the house could not have killed the investors. He was assisted in this work by DSE. Bazlur Rahman, Zakir Hossain, Md. Some corrupt officials including Ikram Hossain, Afzalur Rahman.
So the investors have to bear the responsibility of the loss. Corrupt officers like them do not deserve to be in DSE. As long as they remain in DSE, investors will suffer.
Although an employee of DSE, Bashar works as a representative of BSEC
161 Crore Fraud in Moshiur Securities due to DSE CRO’s Failure: BSEC Condemns
DSE Chief Financial Officer (CFO) and Acting Managing Director Swattik Ahmed Shah talked to investors and police officials who visited DSE about the corruption of Bashar and other officials.
In this regard, DSE’s CFO told Money Trade that some investors who suffered losses in Mashiur’s securities came to DSE with the police. They complained about some people including CRO Bashar. He also gave some proofs. But I don’t know the things. A decision will be taken later after discussing this matter in the board. DSE Chairman has already been informed. He asked for the matter to be presented in the next board meeting.
When asked whether the investors have filed any written complaint with the police, the CFO of DSE said, “I don’t think so.” But the police may have come to DSE on someone’s request. They didn’t say anything.
It is to be noted that the current commission has already announced to take several measures regarding Moshiur’s securities. These include formation of a 4-member investigation committee against Mosiur Securities, termination of facilities including ‘free limit’, suspension of directors’ bank and BO accounts and initiatives to impose ban on those involved and their family members fleeing the country. Besides, further action will be taken as per law after investigation.
