Scamming the public: NAB arrests man for money changer con
Adil Khan has been remanded into bureau’s custody for 12 days
Adil Khan has been remanded into bureau’s custody for 12 days. PHOTO: FILE
PESHAWAR:
National Accountability Bureau (NAB) arrested a man identified as Adil Khan who pretended to run a currency exchange business to fleece money from unsuspecting clients. An accountability court has remanded the accused in NAB’s custody
for 12 days.
According to a statement issued by NAB on Wednesday, the suspect would introduce himself as the owner of a money exchange in the provincial capital to try and con unsuspecting locals.
Adil has been accused of swindling Rs60.08 million from innocent citizens. Adil established a front by the name of Rajgan Exchange Company Pvt Ltd with a head office in Raja Bazaar, Rawalpindi. The accused is said to have lured clients by offering higher interest rates on their investments.
Initially, Adil paid Rs2,000 to 3,500 per month on every Rs0.1 million to investors. Later, he stopped paying the “profit” and refused to return the principal amount.
Also on Wednesday, NAB produced the accused before an accountability court. After hearing the case, the court handed Adil over to NAB on a 12-day physical remand.
Published in The Express Tribune, January 21st, 2016.
National Accountability Bureau (NAB) arrested a man identified as Adil Khan who pretended to run a currency exchange business to fleece money from unsuspecting clients. An accountability court has remanded the accused in NAB’s custody
for 12 days.
According to a statement issued by NAB on Wednesday, the suspect would introduce himself as the owner of a money exchange in the provincial capital to try and con unsuspecting locals.
Adil has been accused of swindling Rs60.08 million from innocent citizens. Adil established a front by the name of Rajgan Exchange Company Pvt Ltd with a head office in Raja Bazaar, Rawalpindi. The accused is said to have lured clients by offering higher interest rates on their investments.
Initially, Adil paid Rs2,000 to 3,500 per month on every Rs0.1 million to investors. Later, he stopped paying the “profit” and refused to return the principal amount.
Also on Wednesday, NAB produced the accused before an accountability court. After hearing the case, the court handed Adil over to NAB on a 12-day physical remand.
Published in The Express Tribune, January 21st, 2016.