Stockbroker killed by friends over losses on shares

Karachi 

A stockbroker was murdered by his friends over a monetary dispute in Al-Falah Society, police said on Monday.

SHO Mohammad Hamid said Faran Ahmed, 35, who worked at a brokerage firm at the Karachi Stock Exchange, died at a hospital on July 29 and his brother Nazeer Ahmed approached the police on Monday to have an FIR registered against the murderers.

A few months ago, some friends of Faran had approached him to purchase shares through him. Under an agreement, they purchased shares of a company worth Rs4 million.

The company recently suffered a loss and the value of its shares declined following which Faran’s friends demanded their money back.

They also had an FIR registered against the company.

The complainant said the night of July 27, six or seven of Faran’s friends along with eight other men had barged into their house where a hot argument took place. They misbehaved with the family and took Faran to the dining hall where they tortured him with knife and blades, continuously demanding their money back.

They kept torturing Faran the whole night and in the wee hours of July 28, they left after robbing valuables from the house and leaving the stockbroker unconscious.

The family took Faran to a private hospital where he succumbed to his injuries. Faran’s brother said the family was in a state of shock and that was why they could not immediately report the incident to police. The SHO said the police had registered an FIR and carrying out raids to arrest the murderers.