Lahore: CEO arrested for breach of trust
LAHORE: The Punjab chapter of the National Accountability Bureau (NAB) has arrested Asad Kamran, Chief Executive Officer (CEO) of M/s United Brokerage Consultant (Pvt) Ltd, on charges of misappropriation of Rs68.63 million and criminal breach of trust.
The company indulged in the unlawful business of collection of deposits from 112 investors on the pretext of inflated monthly profits and subsequently disappeared, the NAB officials said.
The NAB officials said that Kamran had been arrested from Islamabad travelling on forged documents.
An Accountability Court handed him over to the NAB on physical remand, they added.
NAB Punjab director Atiqur Rehman said that Kamran and four other directors had established the company in Allama Iqbal Town, Lahore, in the years 2002 to 2003. An inquiry was authorised on complaints filed by affectees. Kamran fled to Dubai on a fake passport while the other directors joined the investigation and a reference was filed in the Accountability Court.