Investment Scam: Court imposes Rs1.66bn fine
Accused persons used to take money from people, especially overseas Pakistanis and promised them to double the amount
PHOTO: FILE PHOTO
LAHORE:
An accountability court announced a fine of Rs1.66 billion to an accused in doubling of Kuwaiti dinar scam and declared three accused persons as proclaimed offenders for not appearing before the court.
The accused persons used to take money from people, especially overseas Pakistanis and promised them to double the amount. However, they fled after receiving the amount. The National Accountability Court on complaints started looking into the matter.
After investigations, the case was presented before an accountability court in 2006. During the proceedings, the case concluded in plea bargaining. The punishment of a fine of 44,35,814 Kuwaiti dinar was announced by an accountability court to the accused Yaqub in the case. According to NAB spokesperson, they were conducting raids to arrest the other accused persons.
Published in The Express Tribune, December 24th, 2017.
An accountability court announced a fine of Rs1.66 billion to an accused in doubling of Kuwaiti dinar scam and declared three accused persons as proclaimed offenders for not appearing before the court.
The accused persons used to take money from people, especially overseas Pakistanis and promised them to double the amount. However, they fled after receiving the amount. The National Accountability Court on complaints started looking into the matter.
After investigations, the case was presented before an accountability court in 2006. During the proceedings, the case concluded in plea bargaining. The punishment of a fine of 44,35,814 Kuwaiti dinar was announced by an accountability court to the accused Yaqub in the case. According to NAB spokesperson, they were conducting raids to arrest the other accused persons.
Published in The Express Tribune, December 24th, 2017.