LAHORE– The Accountability Court Lahore has announced an important conviction in a case relating cheating public at large matter in which an accused named Muhammad Muzamil has been announced convicted for 7 years imprisonment (RI) and a liability of fine worth Rs100 million as penalty.
The court has issued the verdict over a Reference No. 22/2019 filed by NAB Lahore Prosecution team.
The court also announced to sale out all cautioned properties (land revenue) found in the name of the convicted accused viz (i) an agricultural land comprising an area of around 15 Kanal 2 Marla situated at Tehsil Muridkey, District Shekhupura; (ii) a house situated in Tehsil Ferozwala alongwith (iii) other land in the same area is announced to be sold out for the sake of recovery of looted money from the convicted M. Muzamil.
As per details of the Reference, the convicted person with malafide and dishonest intention 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 etc… he also induced general public that they would get the brand new China motorbikes or profit on their principal amount as the investment of Rs 25000 each….
Moreover, the convicted led the general public to believe that he book bikes from different manufacturers and Companies on cheaper rates and sells the same while earning handsome profit. Thus the convicted dishonestly extracted an amount of Rs98,647,000.
Around 98 x Complainant affectees approached NAB Lahore regarding the scam over which DG NAB Lahore authorized an Inquiry which was subsequently converted into Investigation level in December 2018.
On appraisal of the suffient material and evidences the Bureau filed a corruption Reference in honorable Accountability Court and prayed that the culprit be tried and punished in accordance with law.— PRESS RELEASE