Meeting for its upgradation from inquiry to investigation. It is important to note that reference is filed after completion of investigation.
Details reveal that a company Global Health Services (GHSL) was registered with an authorised capital of Rs 20 million while the paid up capital stood at Rs 5,633,150.
The accused started collecting money for 'partnership' in a project of GHSL. He collected over Rs 30 million in US dollars from each of the 207 persons through pay orders and cheques in the name of GHSL as well as in his own name, promising attractive returns.
Since 2007, over Rs 4.5 billion are in unauthorised use of the accused and his colleagues who issued share certificates of less value at a higher rate. In this way, the paid up capital of the company jumped from Rs 5.6 million in 2009 to Rs 3 billion in 2011.
As per law, no company is incorporated under the Companies Ordinance 1984 by the name of the hospital. Therefore, no question arises for formation of the hospital board. So far as the GHSL is concerned, there are seven Board of Directors members and it is being used as a shield to cover up the culprits.
The accused extorted money on different pretexts and even violated the US security rules in soliciting investment. The accused visited the US regularly and rented a booth at the summer meeting of APPNA (Association of Physicians of Pakistani decent of North America) and solicited investors by selling partnership and shares of QIH/GHS to them.
The NAB spokesman, Nawazish Ali Asim, when contacted, confirmed that they were investigating the matter which was at the inquiry stage. He said the NAB so far had not received a formal written Voluntary Return (VR) application from the owner of GHS/QIH.
He, however, said the bureau would not comment on any verbal offer from any accused as that might hamper the investigation. The NAB only considered written VRs, he added.
Sources in NAB say the said doctor has offered the bureau to compensate the genuine complainants while he expressed reservations over some people who, according to him, are politicising the issue.