Rs.2.5 billion fraud: NAB KP team conducts raids to arrest main culpritsJuly 30, 2013
Peshawar: NAB KP Team conducted raids in various places of Khyber Pakhtunkhwa Province to arrest main culprits involved in more than Rs.2.50 Billion fraud.
The accused persons who established a company namely Life Medicine Company LMC Doaba Hangu deprived around 2500 innocent affectees of their hardearned money on the pretext of investing their money in interestfree business with lucrative profit / return.
The case is very much similar in nature detected by NAB Rawalpindi in which a fraudulent company under the cover of Muftis deceived a large number of innocent people who issued decree in favour of the fraudulent company being purely Islamic Business.
Two accused persons Amjad Iqbal and Abdus Samad of Doaba Hangu have already been arrested while NAB is conducting raids to apprehend the other main accused persons Jamshid Khan, Syed Muhammad Daewood Shah and Abdus Sattar.
The said company is neither registered with Security and Exchange Commission of Pakistan SECP nor with State Bank of Pakistan SBP.
NAB KP has advised the general public to be careful and not to invest their hard earned money with those, claiming to make their money double through investment in high profit businesses.