Staff Reporter :
The High Court (HC) on Tuesday directed eight accused of two cases filed in connection with 1996 share market scam to surrender before a trial court.
They will have to surrender in the trial court within a month after receiving the High Court order.
The accused are — Directors of Security Consultants Limited M G Azam Chowdhury, Mohammad Shahidullah, Professor Mahbub Ahmed and Directors of HMMS Financial Consultancy and Securities Limited Hemayet Uddin Ahmed, Moshtak Ahmed Sadeq, Syed Mahbub Morshed, Sharif Ataur Rahman and Ahmed Iqbal Hasan.
The High Court, however, asked the lower court to consider bail if the accused pray for it after surrendering in the cases.
The High Court Bench of Justice Md Rais Uddin passed the order after accepting two appeals filed by the Security Exchange and Commission against the lower court verdict that acquitted all the eight accused from the share scandal charges.
The Special Tribunal of Bangladesh Securities Exchange and Commission of Dhaka on February 1 this year acquitted all the eight accused, saying there was not sufficient evidence against them, Deputy Attorney General Shafiul Bashar Bhandary told.
The Securities Exchange and Commission filed two separate cases against the accused in 1997 for manipulating the share market prices in 1996, the DAG said.
The Security and Exchange Commission filed two separate appeals with the High Court on March 25 this year against the special tribunal’s verdict
