Fraudster gets 10-year jail for defrauding public
An accountability court in Quetta on Friday sentenced the owner of a fake company to 10-year imprisonment and imposed a fine of Rs50 million in cheating the public at large case.
AC Judge Aftab Ahmed Lone announced the verdict in the light of the National Accountability Bureau Balochistan's investigation and irrefutable evidence against the accused.
NAB Prosecutor Mohammad Dawood Jan pursued the case.
According to NAB’s investigation into the fraud, accused Mozam Jan was running a fake company and accumulated a sizeable amount from the general public on the pretext of investing it in the stock exchange business for profit. For quite some time, he gave profit to the people but later fled depriving the people of their hard-earned money.
NAB Balochistan completed the investigation against the accused and submitted a reference to the accountability court. The accused was later produced before the court, which sent him to jail. The court, after several hearings, sentenced the accused to imprisonment and slapped a fine.
According to Section 15 of the National Accountability Ordinance 1999, after conviction, the accused is disqualified for 10 years and cannot hold any public office or contest election and he is also not allowed to apply for any financial facility and any form of loan or advance from any bank or financial institution.
Published in The Express Tribune, December 18th, 2021.