The High Court on Monday asked for the securities regulator's explanation regarding the reported embezzlement of Tk158.37 crore from four mutual funds by asset manager Universal Financial Solutions (UFS). The state-owned Investment Corporation of Bangladesh (ICB) has also been asked to submit its explanation within 30 days.
The High Court today directed authorities concerned to conduct an inquiry into the allegations of money laundering against Sikder Group’s Managing Director Ron Haque Sikder and his family members..Bangladesh Financial Intelligence Unit (BFIU) and Criminal Investigation Department of Police