Fake foreign exchange business: two accused held by NAB

National Accountability Bureau (NAB) Rawalpindi on Wednesday arrested Tahir Saeed and Nadeem Raza who have allegedly plundered Rs 300 million from 27 complainants on the pretext of investment in their (fake/bogus) foreign exchange business namely M/s Ahmed Trading Company (Commodity trading). The complainants invested in the said fake company through bank transactions using International Fund Telegraphic Transfers (IFTTTs).
The NAB has collected relevant bank records, which transpired that the amounts were actually transferred in personal accounts of the accused who defrauded the complainants. The Accountability Court, Islamabad has granted 14-day physical remand of both accused persons to NAB Rawalpindi for further investigation.-PR