The accused, identified as Ahmer Abidi, Amir Hussain and Muhammad Naqvi, acted as agents of AM Enterprises and NTF Traders on exorbitant commissions and lured the public to invest with their companies in fraudulent schemes for alleged high-profit returns, said NAB Karachi’s spokesperson.
He added that the accused used to directly receive money from people, and kept the investors’ identities secret. In return, they received from NTF Traders and AM Enterprises commissions which run into millions of rupees.
The claims of the affected persons are being collected and checked against information received from banks, explained the spokesperson, adding that further investigation against the accused is under way.
Published in The Express Tribune, June 2nd, 2016.
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