The National Accountability Bureau (NAB) has filed reference in accountability court against the chief executive of M/s Marque (Pvt) Limited, Assad Waheed, on charges of cheating public in investment.
Assad Waheed incorporated the company with the SECP in 2001 to run a software business and later allegedly violated the memorandum of association of the company by cheating the public to invest in the company at high profit rates.
As per the reference he managed to cheat 72 investors. NAB said that investigations confirmed that he had total control over the company's administrative and financial affairs and signed agreements with the 72 investors and had their money deposited in his personal accounts.