DHAKA, Aug 29, 2024 (BSS) - The Bangladesh Securities and Exchange Commission (BSEC) has decided to freeze the Beneficiary Owner's (BO) accounts of five former ministers and their 15 family members.

The stock market regulator today ordered the freeze in a commission meeting held at its head office in the city.

According to the order, their accounts will remain frozen until further notice.

Individuals will keep their funds, but any withdrawals will be disallowed during the freezing period.

The owners of the frozen BO accounts include former minister for home affairs Asaduzzaman Khan Kamal, his wife Lutful Tahmina Khan, his son Safi Muddaser Khan and his daughter Shafia Tasnim Khan.

Former foreign minister Mohammed Hasan Mahmud, his spouse Nurun Fatema Hasan and his daughter Nafisa Zumaina Mahmud, and former state minister Mohammad Ali Arafat and his wife Sharmin Mustary are also on the list.

Former state minister Zunaid Ahmed Palak, his wife Arifa Jesmin Konika, Former MP Mohiuddin Maharaj, his wife Umme Kulsum, and his son Sammam Junaid Efti, former land minister Saifuzzaman Chowdhury Javed, his spouse Rukhmila Zaman Chowdhury, his daughter Zeba Zaman Chowdhury, his relative Zara Zaman, his sister Roxana Zaman Chowdhury and his brother Anisuzzaman Chowdhury had their accounts frozen as well.

The BSEC said the Bangladesh Financial Intelligence Unit (BFIU) decided to investigate the bank accounts of these individuals under the Money Laundering Act of 2012.

These individuals have investments in several stocks and may commit irregularities in the market, hence the BSEC has decided to freeze their BO accounts, it added.