PESHAWAR: National Accountability Bureau has arrested a man for allegedly cheating people under in the name Islamic investment.
A statement issued here on Thursday by NAB Khyber Pakhtunkhwa chapter said that inquiry was initiated against the man identified as Syed Hussamud Din Shah, a resident of Rawalpindi, on the complaints of people.
It stated that the man persuaded and motivated people to invest in their Mudarraba business. He promised very high profit to the people on their investments, but in fact there was no such business, it added.
The statement said that the suspect defrauded people and deprived them of their hard earned money. The accountability court granted 14 days physical remand of suspect to NAB.
The NAB has asked the affected people to approach its office in Hayatabad to register their claims against the arrested person