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Couple Wanted in One of Pakistan’s Biggest Ever Car Loan Scams

A couple from Karachi scammed hundreds of car buyers by running a fake car financing business. A media report suggests that the fraudulent party, working under the name ‘Butt & Sons (Pvt.) Ltd.’ stole millions from the customers and fled from the city without leaving a single clue behind.

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The company lured in car buyers by posting ads for their services on Facebook and OLX. The unique selling point of the company was that they promised a 5% interest rate to the customers looking to buy a car in installments, whereas the banks mostly offer interest at the minimum rate of 11%.


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The process reportedly entailed the buyers having to visit one of the company’s three outlets; in Gulshan-e-Iqbal, Tariq Road, and DHA. Upon arrival, the applicants were requested to meet an inquiry office, who then asked various questions from the buyers such as their residence and professional details such as company, designation, nature of work, etc. Later, the customers were allowed to meet the manager.

Once the meeting with the manager concluded, the customers were asked to sign an agreement and make a fixed down payment in accordance with the payment plan.

“The verification process takes fifteen days to complete, starting from the day of the down payment and if any applicant cancels the deal before the start of verification then 26% will be deducted from his down payment,” said the agreement document.

The company was around for two years and has reportedly scammed hundreds of car buyers with their bogus car financing programs. Reportedly, fourteen FIRs have been filed against it in three police stations across Karachi. Seven FIRs were registered against the owners of the business at Aziz Bhatti police station, five at Ferozabad, and two at Defence police station.

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  • YE HOWA AUR HOTA RAHYGA
    JAB TAK SBP YA BANKS AUTHORIZED LOAN SHCME YA DEALERSHIP KO CERTIFICATE NA KARE AUR DEPOSIT LE YA OWNERSHIP LE NUQSAN KI SURAT MAIN

    AWAM KA KOI NAHI SOCHTA

    • There is no real “maqami” insaan. Everyone has moved in at some point in the past. Have an open mind please. Accept different people. Accept differences. Have more tolerance. Diversity makes Karachi and other places beautiful. Don’t we Pakistan want the same thing when we are in foreign lands? Why do we say people are racist in foreign lands when we are ourselves racist? Thank you.

  • Well this is big slap on our government law enforcement agencies. Its there responsibility to look out for these culprits. Poor common people’s are suffering alot. Banks gave vehicles on very high rate of interest.

  • How can they “leave no trace behind’? Did they not use facebook and OLX? The IPs can be traced easily by FIA. Police can use their experts to draw sketches of culprits from victims and share those on social media. Some transactions could have been digital (thru banks), that could be traced thru banks. People must have called them, so phone numbers can be traced (and the history of those numbers), details can be got of all calls that were placed from the suspect’s SIMs. If govt. is serious, they can catch these guys within a month.

  • Sorry but and sons done a great job they only scammed those who attracted with 5% interest rate, actually whenever there are greedy people exist these but fut shut comes and fools them.

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