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Fraud accused remand extended

Lahore

May 20, 2020

An accountability court on Tuesday extended the judicial remand of accused in a motorcycle scam worth Rs10 billion. The court has extended the judicial remand of more than 10 accused allegedly involved in defrauding the general public by promising them the delivery of motorcycles within 45 days after making an investment of Rs25,000. The accused included Ehtesham Anwar, Hammad, Saqib, Muhammad Ali, Naeem Khalid, Imtiaz Ahmad, Abdul Majeed, Syed Jamal Fareed, Abid Ali, Muhammad Gulzar, Muhammad Faisal, Muhammad Hussain, Laal Khan and others. The main accused in the case was Ahmad Sial. The accused had been working as stockists in different cities of the province. The main accused, Ahmed Sial, got registered his Multi-Level Marketing (MLM) firm with the Securities and Exchange Commission of Pakistan (SECP) in 2017 and started his business of import and export of spare parts, afterwards the accused in connivance with other co-accused launched a company named M/s Munafa Network Marketing (Pvt) and started receiving hefty amounts for providing motorcycles within 45 days.