Coop society fraud
Our Special Correspondent
National Accountability Bureau (NAB) has arrested five accused persons over a series of raids conducted on Saturday.
According to details revealed by the NAB, the accused persons were wanted in an investigation against office holders of Karimabad Ismailia Multipurpose Cooperative Society Karachi, Nazar Ali, purported Director of society, Shaukat Hussain, purported Chairman, Vice Chairman of society, Zulfiqar Hassan Ali, former purported Secretary of Society, Muhammad Ali, illegal beneficiary of flats and co-conspirator and Sikandar Ali, illegal beneficiary of flat and co-conspirator. The accused persons in connivance with each other held a fake elections of society in violation of society by laws and illegally took over management of society.