PESHAWAR: The National Accountability Bureau (NAB) has put the name of Nadeem Hamid Sheikh, director Natover Leasing and Re-finance limited (NLRL), on the exit control list and assets of the CEO and his family members have been frozen. A spokesperson of NAB Khyber-Pakhtunkhwa said that the Bureau has started an inquiry against the directors of NLRL, Natover International Private Limited (NIPL) and the Orion Investment Company. Significant progress has been made so far to ensure payments to those affected, he said, and dozens of affectees are registering claims against the companies on a daily basis. The total liability calculated against the companies in initial probes has been calculated at Rs708 million. The companies’ directors were involved in cheating the public at large and deprived hundreds of investors of their money on the pretext of giving them unprecedented returns on investment.
Published in The Express Tribune, April 12th, 2012.