HC orders 8 stock scam accused to surrender

Staff Correspondent: The High Court (HC) has ordered eight accused of two cases filed in connection with 1996 share market scam to surrender before a trial court.

They were asked to surrender before the trial court in a month after receiving HC order.

However, the HC asked the lower court to consider bail to the accused if they pray for it after surrendering in the cases.

HC bench of Justice Mohammad Rais Uddin on Tuesday came up with the order after accepting two appeals filed by the Security Exchange Commission against the lower court verdict that acquitted all the eight accused from the share scandal charges.

The accused are -- directors of Security Consultants Limited MG Azam Chowdhury, Mohammad Shahidullah and 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 special tribunal of Bangladesh Securities Exchange Commission of Dhaka on February 1 this year acquitted all the eight accused, saying there was not sufficient evidence against them.

The security exchange commission had filed two separate cases against the accused in 1997 for manipulating the share market prices in 1996.
 

risingbd/Dhaka/April 03, 2018/Mehade/A K Azad