Templates by BIGtheme NET
Home » General » Owners of ‘fraudulent’ company in NAB custody
Owners of ‘fraudulent’ company in NAB custody

Owners of ‘fraudulent’ company in NAB custody

ISLAMABAD: Owners of a company who allegedly deprived innocent people of their hard earned money amounting to Rs350 million in the name of ‘investment’ have been sent behind bars by the National Accounta­bility Bureau (NAB).

Following their arrest, the Accountability Court, Islamabad on Tuesday granted NAB their 14 days physical remand for further investigation.

The arrested people were identified as Mohammad Khalid Warsi, Pir Mohammad Afzal, Shabbir Hussain and Mohammad Naeem, owners of a private firm Crystal Associates.

According to the NAB’s official handout, the accused registered a firm Crystal Associates and being directors of the company they have collected/arranged investment through vague and fraudulent written agreement from public at large luring them for interest-free finance/business.

During the course of inquiry it has been revealed that they have induced the general public and on their inducement 134 affected people so far approached NAB with their claims of Rs90 million.

But, according to the information shared by the complainants, the number of total victims of the fraud was about 2,000 whose total investment was of Rs350 million.

It has also been revealed during the course of inquiry that the accused persons after receiving the investment from general public set up the businesses of Crystal CNG Stations, Crystal Cash & Carry grocery stores, Crystal Garden and Crystal Cola.

The accused had assured the investors of very high/abnormal profit but they have failed to run these businesses and, therefore, deprived them of their hard earnings.

Courtesy : Dawn News



Share On Facebook
Share On Twitter
Share On Google Plus
Share On Linkdin
Contact us
Please Like Facebook Fan Page
By Liking facebook Page you are Updated about Latest Videos & News