Ponzi scheme: Court sends swindlers behind bars

A woman, her brother and their driver took money from people on the pretext of lucrative investments.

PESHAWAR: An accountability court on Monday sentenced three people accused of fraud worth Rs49.10 million.

Senior Prosecutor Azeem Dad Khan informed the court ex-assistant manager of Canteen Stores Department Saba Zaman, her brother Faisal Nadeem and their driver Sameen Jan had taken money from people to invest in a business in 2012 while promising a handsome profit.

An investigation authorised by the National Accountability Bureau (NAB) uncovered the accused had allegedly taken Rs49.10 million from different people.



To establish confidence, they even returned the investment to some people along with minimal profit.

After hearing the arguments, accountability court judge Wilayat Ali Shah sentenced Zaman to 12 years imprisonment and a fine of Rs50, Nadeem to 10 years imprisonment and a fine of Rs30 million, while Jan was sentenced to five years in prison along with a fine of Rs10 million.

Published in The Express Tribune, September 17^th, 2013.