Karachi: 3 sent to jail
KARACHI: A judicial magistrate (east) on Monday remanded three suspects in jail custody till Dec 3 for allegedly printing and selling fake shares. The FIA received a complaint from the Karachi Stock Exchange regarding the selling of fake shares and arrested a suspect, Naiz Rand, on Nov 18 after an initial inquiry and later on information provided by Naiz, the FIA personnel also arrested the other suspects, Shahzad and Mohammad Rehan, stated to be a fake shares designer and owner of a printing press, respectively.
According to the prosecution, fake shares worth billion of rupees, stamps and documents were recovered from the suspects` possession.
A case (FIR No.78/08) was registered under Section 420, 468, 471, 473 and 109/34 of the Pakistan Penal Code at the FIA crime circle branch, Karachi.