Dhaka, March 3 -- The Anti-Corruption Commission, or ACC, has raided the Bangladesh Securities and Exchange Commission, or SEC, the capital market regulator, to investigate charges of irregularities and corruption in many sectors, such as initial public offerings or IPO approval, during the previous government.

ACC spokesperson Tanzir Ahmed said the commission officials conducted the drive at the SEC Building in Dhaka's Agargaon on Sunday.

According to a statement issued by the anti-graft watchdog, the enforcement team reviewed the records tied to the IPO approval from the SEC, the prospectus submitted by the companies, the audit report, and other necessary documents.

The review found the IPO was approved against the fabricated income ...