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The Anti-Corruption Commission (ACC) has filed a case against 10 top officials of Firstlead Securities Ltd, a brokerage house approved by the Bangladesh Securities and Exchange Commission (BSEC), over an alleged embezzlement of Tk 19.55 crore belonging to its clients.
The accused include the company’s Chairman Jahangir Alam and Managing Director Mohammad Nur Chowdhury.
ACC Deputy Director Md Mustafizur Rahman filed the case with the commission’s Integrated District Office on Thursday.
The other accused are Executive Director Muhibul Bari Rahman, Director Mohammad Aman Ullah, Deputy General Manager Ehteshamul Haque, Director Engineer Mohammad Mansuruzzaman, Rumel Mohammad Saiful Rahman Peer, Abu Mohammad Anwarul Ambiyak Chowdhury, Abdur Rakib Shikdar and Director Muhammad Mizanur Rahman.
According to ACC sources, the case concerns the alleged embezzlement of Tk 19,55,60,480 deposited by clients at different branches of Firstlead Securities, including its Motijheel branch, for purchasing shares.
According to the allegations, the accused allegedly failed to use the clients’ money for the intended purchase of shares and instead transferred funds from portfolios without authorisation and embezzled the money.
The allegations also include the use of forged signatures and fabricated documents to transfer funds, as well as the presentation of false information in accounting records.
The amount allegedly embezzled was calculated based on share prices as of June 30.
ACC sources further said an investigation by the Chittagong Stock Exchange (CSE) on July 17 also found that clients’ funds had been illegally transferred in violation of BSEC directives.