Islamabad: Man arrested for Rs 25 million fraud
ISLAMABAD: Industrial Area police on Thursday arrested a person who allegedly struck a business deal with a steel mill and took away iron material worth of Rs 25 million after giving them bogus cheques, a police spokesman said.
A man came to Pak Steel Mills in sector I-9 and introduced himself as Jawad Anjum, chief executive of Paragon Construction Company, Karachi.
He ordered purchase of 400 tons of iron rods, worth of around Rs 25 million. At the time of delivery, he presented cheques and succeeded to take away the iron rods.
Later the cheques were found bogus. The mill administration lodged a fraud case against him with the Industrial area police station under sections 419/420, 406/468, 471, 411 PPC and 489-F.
A special team headed by Sub-Inspector Abdul Jabbar Khan traced the accused and recovered the iron material from Multan, Lahore, Swabi and Karachi.
The investigations revealed that actual name of alleged cheater was Sajjad Yaqub Malik s/o Muhammad Yaqub, a resident of Nankana district. He concealed his actual identity and struck a bogus business deal.