Court orders freeze of 35 BO accounts of Ring Shine Textile bosses
These BO accounts contain a total of Tk172.15 crore, according to the petition filed by the investigating officer
A Dhaka court has ordered the freezing of 35 BO (Beneficiary Owner's) accounts belonging to the chairman, managing director and directors of Ring Shine Textile Limited (DEPZ).
Dhaka Metropolitan Senior Special Judge Md Sabbir Faiz passed the order, allowing a petition of the Anti‑Corruption Commission (ACC).
According to the petition filed by the investigating officer, Rubel Hossain, assistant director of the ACC, these BO accounts contain a total of Tk172.15 crore.
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The ACC in its plea said an investigation is going on into a collective financial fraud and misappropriation of Tk275 crore related to the share issuance of the publicly listed Ring Shine Textile Limited. It has become essential to freeze the movable assets of the company's chairman, managing director, directors and the institution itself, it added.
The petition also said: "It has been found that the accused individuals and entities are attempting to transfer or hand over these movable assets elsewhere. Therefore, it is urgently necessary to freeze the movable properties without delay."
