National Accountability Bureau (NAB) Lahore on Wednesday arrested accused Saeed Khan Magsi in connection with a Rs 15.38 million scam for cheating public at large.
The accused deprived the public of their money by luring them to invest with him in his schools/education business. The accused published advertisements in newspapers and persuaded innocent people to make investments for 6-7 per cent monthly profits. Furthermore, the accused Saeed Khan impersonated as a retired army officer and pretended to be working in the management of a cadet school. The accused used to issue bogus post-dated cheques in return of the amount/investment received.
Meanwhile, the NAB Lahore also arrested accused Maqsood Ahmed on Wednesday who is reportedly involved in a Rs 106.174 million Punjab Small Industries Corporation pension fraud case.
The accused has been arrested on allegations of corruption and corrupt practices, fraud and embezzlement of public funds.
The NAB Lahore has already arrested 8 accused in the same case. The accused Maqsood Ahmed, in connivance with others, prepared bogus list of pensioners and opened fake bank accounts to siphon off the money.
Both accused will be produced before the accountability court on Thursday for obtaining physical remand.
