Three arrested for defrauding public of Rs72m: NAB


Islamabad—National Accountability Bureau (NAB) has arrested three persons for allegedly collecting Rs 72 million from general public in name of Investments and Allotment of shops in Gwadar City Center. The accused persons namely Azhar Mehmood Awan s/o Abdul Wahid, Imtiaz Ahmad s/o Abdul Wahid, Rizwan Akbar Mughal s/o Muhammad Akbar Mirza collected the amount for shops in proposed shopping mall project in Gwadar which was never materialized and No Objection Certificate (NOC) from Gwadar Development Authority (GDA) was also canceled. As per details here on Monday, the accused and their company never owned the proposed land of the project.
The huge amount was received by accused person to be invested in property development and as such agreements were executed between complainants and Azhar Mehmood Awan, Imtiaz Ahmad, Rizwan Akbar Mughal.
Some complainants who deposited the funds for investment purposes received profit for some time, however, the accused persons later failed to pay not only profit but also defaulted to pay back the principal amount. The other complainants who invested with a hope of owning a commercial property were also left empty handed.
NAB Rawalpindi received complaints from members of general public at large against accused persons and it was alleged that the said accused have collected their hard earned money on pretext to invest same in their so called business of property with commitment to pay handsome return on said investment which they have not honoured.
The accused persons also gave fake allotment letters to some of the complainants of Gwadar City Center. The accused persons were produced before Accountability Court Rawalpindi which granted 14 days physical remand into NAB Rawalpindi custody.—APP