ACQUITTALS OF EIGHT IN 1996 SHARE SCAM CASE

HC accepts for hearing BSEC’s appeal

M Moneruzzaman | Published: 00:12, Apr 04,2018 | Updated: 00:17, Apr 04,2018

 
 

The High Court Division on Tuesday admitted for hearing two appeals filed by the Securities and Exchange Commission opposing acquittal of eight officials of two brokerage houses from the charges of manipulating the share market in 1996 that pauperized countless investors.
The court also asked the then five officials of the HMMS Financial Consultancy and Securities Ltd and three of the Securities Consultants Ltd to surrender to the Special Tribunal for share market-related cases, within 30 days and asked the tribunal to grant them bails.
Five accused officials of HMMS Financial Consultancy includes it’s the then director Hemayetuddin Ahmed and members Mustaque Ahmed Sadeque, Syed Mahbub Murshed, Sharif Ataur Rahman and Ahmed Iqbal Hasan.
Three the then accused official of the Securities Consultants Ltd include its owners MG Azam Chowdhury and Shahidullah and its consultant and former accounting professor at Dhaka University Mahbub Ahmed.
A single judge bench of Justice Md Rais Uddin passed the order after a brief hearing the appeals of the SEC to set aside the acquittals of the eight accused by the tribunal. 

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