National Accountability Bureau (NAB), Lahore shows another major development in M/s Munafa Network Marketing (MNM) Scam by arresting an accused mega stockiest, Sarwar Khan from Sialkot airport as the same returns from abroad.
The accused had been working as mega stockist of Distric Jhang and Bhakkar where around Thirty junior Stockists from surrounding areas used to submit all money allegedly collected from innocent people through cheating and defrauding them at large by luring in the wake of providing Motor Bikes on cheap investment worth Rs 25 Thousand only.
The case details reveal that the owner of MNM Motorcycle Scam accused Ahmed Sayal got registered his Multi-level Marketing (MLM) Firm with Securities Exchange Commissions of Pakistan (SECP) in 2017 and started his business of Import and Export of spare parts, whereas, afterwards the accused in connivance with other co-accused launched a Company named M/s Munafa Network Marketing (MNM), Pvt Company and began to receive hefty amounts in the wake of providing Motor Cycles after receiving Rs 25,000/- cash for promising Bike’s delivery within 45 days.
Meanwhile, hundreds of offices were opened in different cities like Jhang, Bhakkar accordingly, where thousands of agents were collecting Billions of rupees from general public just for their own commission worth Rs 1000/- per bike. Initially, the owners of M/s MNM Private Company distributed around 20,000 Motor Bikes as a confidence building move to attract more investments.
By sniffing the deceitful act, SECP referred the case of treachery to Federal Investigation Agency (FIA), whereas, the case later transferred to NAB Lahore in September 2017 by keeping in view the magnitude of the embezzlement, whereby, Investigations by regional Police and FIA did not turn up much fruitful into the scam.