Owners of housing scheme arrested for fraud


PESHAWAR: National Accountability Bureau, Khyber Pakhtunkhwa, has arrested owners of a housing scheme for depriving people of more than Rs800 million in the name of investments in a housing project and a commercial plaza.

According to a statement issued here on Wednesday, the accused persons, Chinar Gul alias Hamza, owner of M/S Rifha and Zohaib Associates, and his partner Mohammad Arif, had lured general public to invest in different businesses such as investments and housing schemes at attractive sites in Mardan, Peshawar and shops in commercial projects such as Bajaur Tower Rawalpindi, by depicting these projects as lucrative businesses with the promise of huge returns.

However, the accused persons after lapse of considerable time did not provide any returns, plots and shops to any of the investors.

The accused, the NAB statement said would be produced before the Accountability Court Peshawar for obtaining their physical remand.

It was stated that investigation was underway and more facts were expected to surface and more arrests were likely to be made.

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