PESHAWAR: The National Accountability Bureau has arrested the director of a private firm based in Haripur for allegedly cheating public in garb of different fake businesses.
A statement issued here on Monday said Tariq Mehmood along with other co-accused established different fictitious business entities with offices in Islamabad, Haripur and other cities of the country.
It was stated that the he motivated public to invest their hard-earned money in these fraudulent businesses and thus exploited them.
Due to attractive incentives, scores of individuals invested in these businesses. At the end the accused persons neither handed over profit to investors nor did they return principle amount and disappeared.
After the NAB took notice of the case, the accused person absconded and avoided inquiry proceedings. Accordingly, a reference worth millions of rupees was filed against the accused in the accountability court, which declared him proclaimed offender in 2014.
The accused would be produced before the accountability court for obtaining his physical remand for further investigation, the statement said.