Tuesday May 17, 2022

Two directors of telecom company jailed for fraud

January 28, 2022
Two directors of telecom company jailed for fraud

Accountability court on Thursday sentenced two directors of a private telecom company to seven years in prison in a corruption reference pertaining to criminal breach of trust and cheating public at large.

Ahmed Jamil Ansari and Mohammad Ajmal Ansari were also prosecuted for causing a loss to public exchequer to the tune of Rs5.64 billion. The court imposed a fine of Rs888,275,000 each on both convicts, observing that the fines would be recoverable as arrears in view of the NAB Ordinance. It however acquitted one accused, Hasan Jameel Ansari, for want of evidence.

According to the prosecution, the two being directors of a private call company was involved in cheating public at large by issuing calling cards worth Rs120 million, but neither the cards were activated nor the amount was returned to the public. They were also accused of siphoning off funds abroad on the pretext of phony sales amounting to around Rs2 billion, and misuse of company funds for purchase of properties from benamidars amounting to Rs500 million.