Four FIRs filed over Rs400 million solar business fraud

At least 11 Hall Road traders accuse solar firm of fleeing

LAHORE:

Police have registered four first information reports (FIRs) in connection with an alleged multi-million rupee fraud exceeding Rs400 million involving solar panel and inverter businesses operating at Lahore's Hall Road.

The FIRs were lodged at Qila Gujjar Singh Police Station under Section 406 (criminal breach of trust) of the Pakistan Penal Code after at least 11 traders accused the suspects of receiving large sums of money on trust and then misappropriating the funds.

According to police, the accused, Saghir Ahmed, Saddam Hussain and Afzal Durrakar, operating under the business name New Karachi Solar, allegedly collected advance payments and business deposits from several traders before closing their shops and going into hiding.

One of the FIRs states that complainants Umair Yousaf, Aqeel Aamir, Hassan Bilal and Syed Abuzar paid a total of Rs162.68 million to the suspects for the supply of solar equipment and other business transactions. The money was allegedly never returned.

Investigators said Saddam Hussain, a resident of Lodhran and believed to be the central figure in the scam, carried out the fraud with the help of his associates, including a friend and an employee.