The investigation Wing 3 of NAB Rawalpindi has arrested four accused persons Muhammad Khalid Warsi, Pir Muhammad Afzal, Shabbir Hussain and Muhammad Naeem in M/S Crystal Associates Pvt Ltd case.
The accused persons registered a firm by the name of M/S Crystal Associates Pvt Ltd. They are the directors of the firm and are alleged to have arranged investment through vague and fraudulent written agreement from the public under the guise of interest-free business.
During the course of the inquiry, it was revealed that they have induced the general public and so far 134 affectees approached this bureau and have a claim of approximately Rs90.00 million. However, as per the information shared by the complainants, there are about 2,000 affectees with a total claim of Rs 350 million.
After producing before the Accountability Court, Islamabad, all the accused persons were granted 14 days’ physical remand.
Published in The Express Tribune, April 13th, 2016.