Lahore: Forex dealer nailed by NAB
LAHORE: The Dawn News reported on Wednesday, the National Accountability Bureau (NAB) claimed on Tuesday to have arrested currency dealer Muhammad Mansoor Khan who embezzled Rs16.38 million by cheating public at large.
According to NAB, the accused induced general public for investment in foreign currency on exaggerated profits and collected Rs16.38 million from 32 investors. It said M/s Chase Gold International, Bridge Colony, Lahore, was involved in illegal forex business without getting registered with any government regulatory authority.
“The accused defaulted return of money to investors and disappeared. He committed offences of fraudulent misappropriation, illegal gains and cheating public at large. The NAB, Punjab, after collection of incriminating evidence filed reference No. 76/2008.”
It said the accused would be produced before the accountability court for physical remand on Oct 20 for further interrogation.