The Bangladesh Securities and Exchange Commission (BSEC) has frozen the beneficiary owners' (BO) accounts of former Inspector General of Bangladesh Police Benazir Ahmed and his family members, preventing them from trading shares in the stock market and liquidating investments.

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An IGP’s eye-watering corruption takes the lid off patronage politics

"We have frozen the BO accounts following request from the Anti-Corruption Commission (ACC)," said a senior official of the stock market regulator requesting anonymity.

Officials said the BSEC has already asked the Central Depository Bangladesh Ltd (CDBL), which facilitates transfer and settlement of shares and other securities against BO accounts.

The ACC recently requested the BSEC to freeze the BO accounts after a Dhaka court, last week, ordered the confiscation of the former IGP's assets in connection with corruption allegations.

Benazir is accused of amassing illegal assets worth hundreds of crores of taka at home and abroad through power abuse, irregularities and corruption.

The properties were registered in his name and his wife and three children.

Former IGP and his family members acquired almost all their lands during his tenure as the chief of the police and Rapid Action Battalion (RAB), according to property records listed by the ACC.

ACC documents show that Benazir and his family bought 114 acres through 83 deeds.

A total of 112 acres of that land were bought when Benazir served as the inspector general of police and the director general of the RAB, according to the documents.

They purchased 63.97 acres via 50 deeds during Benazir's tenure as IGP from 2020 to 2022.

Another 48.15 acres were bought through 27 deeds between 2016 and 2019 when he served as the Rab DG.

The ACC also found that Benazir's family acquired 1.75 acres through five deeds in 2014 when he was the commissioner of Dhaka Metropolitan Police.

Most of the land was registered under his wife Jissan Mirza's name.