Dhaka, Jan. 6 -- The stock market watchdog has launched an investigation into Beacon Pharmaceuticals based on an intelligence report from the central bank alleging money laundering and market fraud.

The Bangladesh Securities and Exchange Commission (BSEC) has directed the three-member investigation committee to complete the inquiry and submit a report within 60 working days from the issuance of the order on December 28.

The Bangladesh Financial Intelligence Unit (BFIU) of Bangladesh Bank had reported irregular financial transactions between Beacon Pharmaceuticals and other entities under the Beacon Group, as well as serious irregularities related to capital market investments.

BSEC officials confirmed that the managing director of Beac...