DG NAB distribute cheques to the affectees of Dream in Life Int’l

0
691
KARACHI: - Director General NAB Sindh Siraj un Naeem presenting a cheque to the victim of a fraud committed by a local company.

KARACHI, Aug 13:  In reference number 11/2010 State Vs Riaz Mustafa Sheikh and others a pay order distribution ceremony was held at NAB Karachi. In an investigation authorized against the accused of M/s Dream in life International Pvt Ltd where the company plundered money from the general public through multi-level marketing and Pyramid schemes and by operating illegal MLM scheme to the tune of Rs.1 crore, 31 lakh against the directives of SECP.
The company of the accused introduced a lucrative offer to provide house hold / utility items such as cell phones to automobiles at 1/6th of its market value. To become a member of the scheme the individual had to make 20% advance payment for the required items as well as having to introduce 5 additional members who also had to deposit 20% each, as down payment.
NAB Karachi received complaints individually from affectees, through advertisement in newspapers, 16 affectees appeared and submitted their claims.  All accused were absconders, later Riaz Mustafa, Naila Farhat and Habib ur Rehman were arrested. The directors of the company entered into plea bargain and returned the whole amount.
DG NAB Col (R) Siraj-ul-Naeem along with Mr. Farmanullah Khan, Director I-WI distributed the chques to the affectees. DG said NAB shall continue to provide relief to the affected people, and encouraged the public to come forward with their complaints.

LEAVE A REPLY

Please enter your comment!
Please enter your name here