Crest Securities owner traceless, offices locked

The owner of Crest Securities, an intermediary in the sales and purchase of shares and units, has disappeared, leaving investors in confusion. Employees of the brokerage house have also disappeared without any announcement.

All 3 branches of the brokerage house in Baridhara in Dhaka, Narayanganj and Cumilla are currently locked.

Recently, the house bought shares and units worth Tk 70 lakh from DSE. But the check for the purchase bounced. As a result, DSE tried to contact the house but failed. Later, DSE sold the shares to pay dues.

Since then, all the employee’s phones have been found turn off – including the managing director of the house, Shahid Ullah.

Later, investors of Bangladesh Capital Market Investors Unity Council went to Crest Securities’ head office in Purana Paltan on 24 June only to find it locked.

Checks from Crest Securities have also bounced to some investors.

Bangladesh Capital Market Investors Unity Council has written letters to both stock exchanges, including BSEC, to ensure that investors' money and shares are protected in this situation.