• Friday, Sep 24, 2021
  • Last Update : 07:39 am

Police arrest one of Crest Securities’ fugitive directors

  • Published at 11:16 am July 28th, 2020
Crest.jpg
Incorporated in 2006, Crest Securities ran operations from its headquarters at Dhaka’s Purana Paltan, with three branch offices in capital’s Pragati Sharani, Narayanganj and Comilla Collected

On July 6, police arrested Crest Securities’ Managing Director Md Shahid Ullah, his wife Nipa Sultana and two others, over embezzling of shares and money of stock investors through his brokerage houses

Dhaka Metropolitan Police’s (DMP) Detective Branch (DB) has arrested one of Crest Securities’ directors Oahiduzzaman, who had been in hiding since being accused of embezzling shares and money of stock investors.

Oahiduzzaman was arrested from the Lake City in Dhaka’s Khilkhet area on Tuesday.

DB’s Deputy Commissioner (Ramna zone) HM Azimul Haque confirmed the matter to Dhaka Tribune, and said he is one of the fugitives accused of embezzling money, working for Crest Securities.

Police is now in the process of taking measures against him in accordance with the law, he added.

Earlier on June 23, Crest Securities Limited, a corporate member and stock brokerage house of Dhaka Stock Exchange (DSE), closed its head office and all other branches without any prior notice.

Following the closure, the organization’s Managing Director and other officials went into hiding.

On July 6, police arrested Crest Securities’ Managing Director Md Shahid Ullah, his wife Nipa Sultana and two others, over embezzling of shares and money of stock investors through his brokerage houses.

It was revealed on July 7 that the stock brokerage house had embezzled Tk48 crore from investors and creditors.


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