Ponzi scheme : Man arrested for swindling investors
Efforts are under way to nab the other accused persons and to recover every penny from the innocent victims.
PESHAWAR:
National Accountability Bureau (NAB) arrested MM Qureshi International (Pvt) Ltd Director Mushahid Ali, who in connivance with other accused persons, allegedly took away more than Rs500 million from dozens of victims in a Ponzi scheme. The bureau’s provincial chapter has so far received claims of more than Rs500 million from more than 100 affectees. Efforts are under way to nab the other accused persons and to recover every penny from the innocent victims, states a dispatch from the bureau. Affectees of all such Modarba and Musharika investment companies are requested to approach NAB authorities with their claims and supporting documents, it added.
Published in The Express Tribune, March 29th, 2014.
National Accountability Bureau (NAB) arrested MM Qureshi International (Pvt) Ltd Director Mushahid Ali, who in connivance with other accused persons, allegedly took away more than Rs500 million from dozens of victims in a Ponzi scheme. The bureau’s provincial chapter has so far received claims of more than Rs500 million from more than 100 affectees. Efforts are under way to nab the other accused persons and to recover every penny from the innocent victims, states a dispatch from the bureau. Affectees of all such Modarba and Musharika investment companies are requested to approach NAB authorities with their claims and supporting documents, it added.
Published in The Express Tribune, March 29th, 2014.