National Accountability Bureau (NAB) Karachi has arrested 2 persons who were allegedly involved in running a Ponzi scheme, embezzling as much as Rs 786 million through it.
According to NAB Karachi, raids were carried out in 2 different locations in Karachi. The NAB team arrested Mohsin Abidi and Abdullah from the remits of I.I. Chundrigar Road and Hassan Square respectively.
The accused Abdullah and Mohsin Abidi lured more than 40 unaware people who invested in their schemes. They received illegal proceeds of approximately Rs. 6 million as commissions out of the investors’ money. The arrested individuals have also disclosed other people’s names as their abettors in this ponzi scheme.
The accused Abdullah and Mohsin Abidi have been charged as agents of the said Ponzi scheme, working in active connivance with 2 more accused Ali Raza and Talal Asghar as well. Through this scheme they lured the innocent public, individually and jointly, to invest in their companies on the promise of high returns of profits under the garb of legal investment. However, the said business was actually carried out to cheat public at large by fraud.
NAB Karachi said that both the accused and arrested persons were wanted in Reference No. 34/2016 filed against Ali Raza, proprietor of M/s AM Enterprises and Talal Asghar, Proprietor of M/s NTF Traders (both under judicial custody) on the charges of cheating the public at large to the tune of Rs. 786 million.
The arrested individuals will be produced before an Accountability Court in Karachi and physically remanded.
Once again NAB victimizing politicians and officials in Sindh. I wont be surprised if they link these people to Sindh govt or PPP.
Kahan zikar hai bhai aisi kisi bhi baat ka? :/
NAB and establishment has a problem with PPP. The always victimize them.
Waaqi, bara zulm ho rha hai in kay saath.
Waise kuch dinoun k liay andron-e-sindh jaana howa mera 2-3 baar. Wahan k logoun ki khushali dekh kr rona aa gya. Itni taraqqi krli Sindh ne ab k Dubai ne bhi kia ki hogi.
Yaad aaya Thar main bachay bhook se nahi balkay ziada kha kar mar gae thay aur sharaab ki bottles nahi thien woh pani ki thien jo ek Naik haji k ghar se nikli thien.
The establishment (which is Punjab centric) doesnt like PPP having power. PPP ko kab chain se govt chalanay di hai pichhlay 40 salon main? Logon ko sirf Sindh main hi corruption nazar ati hai.
Subhan Allah!
Ye new reason dhoonda hai sab ne.
Noon walay bhi yahi kehtay hain k sukoon se hamain kab hukoomat krne dia hai.
Arboun rupay loot’tay aur mulk ko deemak ki tarhan kha jaatay waqt inhain yaad nahi aata ye sab. Jab corruption ki baat aae to foran rona shuru hojata hai sab ka.
Lol
Great Recover each pisa and Add to Govt Reserves
In Paiaso Se Amwam Ka Qarza Utaro : PKR 95,000 Hum Q De ???
MashaAllah Boht Naik Log Hein, Corruption Bhi Karty Hein to Muqaddas Figures Mein…..
This is a case which literally resulted in me losing faith in our judicial system and Pakistan. I am close to this case and invite you guys to read the referred reference submitted by NAB (Reference No. 34/2016) the entire reference. I was stunned at the pathetic investigation carried on by NAB, overlooking the obvious and creating stories just to recover monies. You will be too!
Many innocent people – who were mere good faith investors in this scheme – have been “Abducted” by NAB just to recover investments of “Dr. Pervaiz Hashmi” (a leading orthopaedic surgeon on Aga Khan Hospital Karachi) and his brother “Sajjad Hashmi” through unjust Voluntary Return (VR) and Plea Bargain (PB). Read a little about Dr Pervaiz here (https://www.dawn.com/news/82132)
All this is being done on the pressure of “DG Rangers Karachi” as he is very close to Dr Pervaiz Hashmi.
The only culprit in this case is Mr. Talal Asghar, who has taken names of so many investors as commission agents and they are suffering the wrath of “Hashmi Brothers, DG Rangers and NAB”. Ironically Sajjad Hashmi and Pervaiz Hashmi has also received commissions as per NAB reference and record.
On the other hand Talal has saved his entire family who though initially were not involved in this fraud, but are now safeguarding the looted monies since his arrest. Even Mr. Ali Raza was a victim of trust and blind faith on Talal, his real brother-in-law.
I am writing this as last resort, as I am seeing so many families suffering. I cannot come forward due to fear of the obvious, I just want the Media to investigate and unearth truth in this case. This case is simply “Watergate for NAB and DG Rangers Karachi”. I request the SC, SHC and Government of Sindh to look into this case fairly and try upholding long lost law in this country.