Staff Reporter :
The Crest Securities Limited, a corporate member and stock brokerage house of Dhaka Stock Exchange (DSE), has assured their investors to return their money within three months, DSE relevant sources said.
Shahid Ullah, Managing Director (MD) of Crest Securities, on Sunday promised it during a conversation with the Managing Director (MD) of DSE over phone in this regard.
Meanwhile, the head office of Crest Securities at Purana Paltan in the capital was found under lock and key on Sunday. Hundreds of investors gathered in front of the office demanding their money back.
According to the source, Shahid Ullah told the DSE Managing Director Kazi Sanaul Hoq over phone that he had taken money from some individuals and companies. But his life is now in danger as he cannot return it.
That is why he has gone into hiding but he is still in the country. He pledged the DSE about returning the money of investors within three months.
In reply, the DSE MD asked him to surrender immediately, the source said.
After the incident, however, the Bangladesh Securities and Exchange Commission (BSEC) has taken some immediate actions against the company. It has formed a committee comprising three-member including two representatives from the both (DSE) and Chittagong Stock Exchange (CSE). The committee will submit its report along with the amount of money which reportedly lost by the investors.
Md Saifur Rahman, Executive Director of the Bangladesh Securities and Exchange Commission (BSEC), told the media that BSEC also requested Bangladesh Bank to freeze the consolidated customer account of this company.
Earlier, Crest Securities Ltd closed its operations and also shut its office down without any prior announcement.
For the sudden closure, the investors are worried about the security of the money and shares invested in the company.
The investors alleged that MD of Company Md Shahid Ullah and other officials have embezzled their money and fled away.
