The National Accountability Bureau (NAB) has filed a reference against Mian Khurram Rasool, his brother and co-accused Shahid Mehmood in the Accountability Court Rawalpindi.
In the reference, the NAB has alleged that Mian Khurram Rasool, the principal accused and proprietor of M/s True Concept Partnership Pakistan (TCP) and Paramount Rainbow Company (PARCO), induced the public at large to invest their money with these two companies. Ostensibly, these companies were doing a business of Sugar & Scrap with Trading Corporation of Pakistan and Pak Arab Refinery Company Ltd, but in fact the companies never did any such business. Mian Khurram Rasool was assisted by his brother and co-accused Shahid Mehmood in this cheating public at large scam.
Together they had collected an amount of Rs. 151.017 million from general public.
In order to cheat the public, Mian Khurram Rasool got opened the bank accounts in the names of companies like TCP and PARCO and personified them as Trading Corporation of Pakistan and Pak Arab Refinery Co Ltd (PARCO), whereas he factually got opened/ maintained accounts of his companies, True Concept Partnership Pakistan (TCP) and Paramount & Rainbow Company (PARCO) with Askari Bank Ltd, Jinnah Avenue Branch, Islamabad, and Paramount Rainbow Company (PARCO) with the Bank of Punjab, Satellite Town Branch, Rawalpindi.
The accused have already been arrested and are in the judicial custody.
NAB files reference against Khurram Rasool, brother
