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NAB apprehends Major Qayyum for cheating people.

ISLAMABAD -- National Accountability Bureau (NAB) Rawalpindi has arrested an accused Major (R) Atif Qayyum for luring general public to invest in his so called gold business.

It was alleged that Ex Major Atif Qayyum was involved in Gold Trading Scam through taking Money from public as investment /loan to be invested in daily trade of physical gold through different gold trading companies.

As per details, the accused had promised 6 percent to 7 percent approximate profit on monthly/five weeks cycles.

He also ensured investors that trade would be conducted according to shariah basis and at any given end-of -trade; physical gold in form of gold bricks would be transferred to Atif's Vault, being maintained by trading companies.

During Inquiry it has revealed that subject accused did not have any such business neither the earning of such lucrative profits as he committed to the investors.

Director General NAB Rawalpindi Irfan Naeem Mangi said NAB officers/officials under the leadership of Chairman NAB Justice Javaid Iqbal are determined and committed to perform their national duty with absolute objectivity, thorough professionalism and unimpeachable integrity and without any leanings for or against anybody.

He said NAB is making all out efforts to recover the looted money from the swindlers.

However, this practice to invest in the unauthorized schemes in greed of more interest and returns on investments must be ended and discouraged.

He urged the people to invest only in the government approved banking system and investment companies.

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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Geographic Code:9PAKI
Date:Mar 14, 2019
Words:289
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