The Bangladesh stock market regulator has ordered suspension of the beneficiary owner's (BO) account of Mohammad Sayeed Khokon, former mayor of the Dhaka South City Corporation (DSCC).
It directed the Central Depository Bangladesh Limited (CDBL) to suspend the BO accounts of Mr. Khokon, his wife, and his sister, following a request from the Anti-Corruption Commission (ACC). The Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) also received instructions regarding the suspension.
A few months ago, the ACC launched an investigation into the allegations of abnormal transactions in the bank accounts of Farhana Sayeed (Mr. Khokon's wife) and Shahana Hanif (his sister). It made the request it said for the sake of the investigation.
Sayeed Khokon faced corruption allegations after his tenure as mayor ended in 2020. According to documents submitted by him to the Election Commission, he made investments worth more than Tk 650 million in stocks and bonds.
Travel Ban
Meanwhile, a Dhaka court has recently imposed a travel ban on the former DSCC mayor, his sister Shahana Hanif, his wife Farhana Sayeed, and his brother Zaved Ahmed over graft allegations.
The Dhaka Metropolitan Sessions Judge Court issued the order, considering a plea of the ACC. The anti-graft agency, in its petition, said unusual transactions in the bank accounts of Mr Khokon pointed to the accumulation of illegal wealth through abuse of his political position.
The ACC expressed concerns that the accused might leave the country to evade justice and so sought a travel ban to ensure that they face legal proceedings for their alleged misconduct.
© 2025 - All Rights with The Financial Express
