Fraudster convicted; Rs100m liability imposed

LAHORE: Accountability Court on Monday awarded seven years jail term to one Muhammad Muzammil over the charges of cheating public at large. The court has also imposed a liability of Rs100 million on the convict.

The court also announced to sale out all cautioned properties (land revenue) found in the name of the convicted including an agricultural land comprising an area of around 15 kanal and 2 marla situated at Tehsil Muridke, a house situated in Tehsil Ferozwala along with other land in the same area.

As per details of the Reference, Muzammil induced the public at large on the pretext that he was running a lawful business in the name of Al Khursheed Group and guaranteed for better investment results as compared to the current banking system. He also induced the people that they would get the brand new China motorbikes or profit on their principal amount at the investment of Rs25,000 each.

Moreover, the convict led the general public to believe that he booked bikes from different manufacturers and companies on cheaper rates and sold the same while earning handsome profit. Thus the convict dishonestly extracted an amount of Rs98,647,000 from different people.

Around 98 complainant affectees approached NAB Lahore regarding the scam over which DG NAB Lahore authorised an inquiry which was subsequently converted into investigation level in December 2018. On appraisal of the sufficient material and evidences the bureau filed a corruption reference in the court prayed that the culprit be tried and punished in accordance with law.