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Motorcycle scam accused’s remand extended

By Our Correspondent
November 13, 2021

LAHORE:An accountability court on Friday extended judicial remand of the accused in multi-billion MNM motorcycle scam till November 27.

The court has also directed the National Accountability (NAB) to come up with arguments on the next hearing regarding acquittal applications of two accused. The NAB had filed a reference against more than 30 accused in the scam.

According to the case, they are allegedly involved in cheating and defrauding the general public by promising them delivery of motorcycles within 45 days after making an investment of Rs 25,000. The accused include Ehtesham Anwar, Hammad, Saqib, Muhammad Ali, Naeem Khalid, Imtiaz Ahmad, Abdul Majeed, Syed Jamal Fareed, Abid Ali, Muhammad Gulzar, Muhammad Faisal, Muhammad Hussain and Laal Khan. The main accused in the case is Ahmad Sial. The accused were working as stockists in different cities of the province. They used to collect all money allegedly from innocent people by promising them motorcycles on investing Rs25,000 only. The main accused, Ahmed Sial, got registered his Multi-Level Marketing (MLM) firm with the Securities Exchange Commissions 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 from people with the promise of providing them with motorcycles within 45 days. The NAB Lahore has so far arrested 25 accused, including Ahmed Sial.