NAB arrests four accused for depriving affectees of Rs 350m

Islamabad—NAB Rawalpindi investigation teams have arrested four accused persons Muhammad Khalid Warsi, Pir Muhammad Afzal, Shabbir Hussain and Muhammad Naeem in M/S Crystal Associates Pvt Ltd.
The accused persons registered a firm with the name of M/S Crystal Associates Pvt Ltd. They are the directors of M/S Crystal Associates Pvt. Ltd. Being directors of the company they have collected/arranged investment through vague and fraudulent written agreement from public at large luring them for interest free finance/business.
During course of inquiry it is revealed that they have induced the general public and on their inducement so far 134 affectees approached this bureau and have a claim of Rs. 90.00 Million (approx). However, as per the information shared by the complainants there are about 2000 affectees having total claim of Rs. 350.00 Million.
It is also revealed during the course of inquiry that the accused persons after receiving the investment from general public set up the business of Crystal CNG station, Crystal cash & carry, Crystal garden and Crystal cola they assured the affectees of very high/abnormal profit but they have failed to run the said businesses and therefore deprived the affectees from their hard earnings.
After producing before the Accountability Court, Islamabad, all these accused persons are granted 14 days physical remand with NAB (R) for further investigation.
DG NAB Rawalpindi Mr. Zahir Shah said that in light of the directions of Chairman NAB, Qamar Zaman Chaudary, all out efforts are being made to recover the looted money from swindlers and individuals corrupt.
He said that Chairman NAB has categorically directed to all ranks of officers/officials of NAB to pursue proactively corruption cases as per NAB’s Standard Operating Procedures (SOPs) transparently and on merit and take necessary measures to arrest corrupts and proclaimed offenders in order to eradicate corruption from the country.—INP

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