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Another accused of motorbike scam arrested

By Our Correspondent
May 10, 2018

LAHORE: National Accountability Bureau on Wednesday arrested another person in Munafa Network Marketing (MNM) motorcycle scam for his alleged involvement in cheating public by promising them the delivery of motorcycles within 45 days after making an investment of Rs 25,000.

The National Accountability Bureau arrested the accused, Sarwar Khan, at Sialkot airport as he returned from abroad. He was working as mega dealer of Jhang and Bhakkar districts and around 30 small dealers from the surrounding areas used to depose all the money allegedly collected from innocent people through cheating them by luring them with the promises of giving them motorbikes on investment of just Rs 25,000.

According to the case details, the owner of MNM, Ahmed Sayal, registered his Multi-level Marketing (MLM) firm with the Securities and Exchange Commissions of Pakistan (SECP) in 2017 and started his business of import and export of spare parts. Later, the accused, along with another accused, launched a company named M/s Munafa Network Marketing (MNM) Pvt Company and began to collect hefty amount from people with the promise of providing them with motorcycles within 45 days after receiving Rs 25,000 in cash for one bike.

Meanwhile, hundreds of offices were opened in different cities like Jhang, Bhakkar accordingly, where thousands of agents were collecting billions of rupees from general public just for their own commission worth Rs 1,000 per bike.

Initially, the owners of M/s Munafa Network Marketing Private Company distributed around 20,000 motorbikes among the people to attract more investments. By smelling the deceitful act, SECP referred the case of treachery to Federal Investigation Agency (FIA). Later the case was transferred to National Accountability Bureau, Lahore, in September 2017 keeping in view the magnitude of the embezzlement.

NAB has so far, arrested five accused, including M/s MNM Chief Executive Ahmed Sayal. National Accountability Bureau investigation officials have got 15 days, till May 24, physical remand of accused Sarwar Khan from an accountability court.