Lahore: CEO arrested for breach of trust

Zeeshan Ahmed June 30, 2011 12

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.

NAB arrested CEO on charges of misappropriation of Rs68.63 million and criminal breach of trust. Courtesy: The Express Tribune

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.

The original article can be found at The Express Tribune.

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12 Comments »

  1. Reporter November 20, 2012 at 3:14 am - Reply

    Again FAKE Passport True Scandal

  2. Publisher November 17, 2012 at 5:21 pm - Reply

    United-brokerage-consultant-Pvt-Ltd, CEO Mohammad Asad Kamran s/o Mohammad Iqbal, travelled Dubai in 2003 to 2004 on forged documents under Mohammad Naeem s/o Sabar Ali, Passport #: BZ9959591. Since then he was declared absconder by Lahore High Court and he was working in Dubai under forged identity Mohd Naeem name. In June, 2011, he went Pakistan where he was arrested traveling on forged Passport under Mohd Naeem name by FIA, because he was absconder in NAB case (National Accountability Court #.5, Lahore, Pakistan, and Accountability Court Reference No: 26/2007).

    Again he entered Dubai on forged passport in 2012 and in June, 2012 he was arrested by Dubai Govt authorities in a criminal case and released on bail. In October, 2012 again he was arrested by UAE Legal Authorities, (the matter is under investigation and he is in custody).

    QUESTION: When FIA arrested the absconded/wanted accused traveling on forged documents in June, 2011 and produced him in NAB case then WHY FIA or Investigation Team or NAB or NAC did not cancel his forged passports? And then the same forged passport was handed over to him in 2012 to flee from Pakistan, who handed over the forged passport to him, FIA OR NAB? Knowing that the NAB case is still under trial?

    Why it happens in Pakistan and why our Govt is not concerned about these forged passports because such things destroys our country name abroad and such people have made our lives miserable in foreign countries.

    Cheaters cheat at large THEN flee from Pakistan, LATER caught after EIGHT (8) years and then again flee on the same forged documents!!!!!!

  3. Publisher November 14, 2012 at 12:22 pm - Reply

    June, 2012 Mohammad Asad Kamran alias Muhammad Naeem was arrested in Criminal Case in Dubai and again in October, 2012, he was arrested by legal agencies. It’s 100% TRUE

  4. Publisher November 14, 2012 at 11:50 am - Reply

    Aug. 01, 2003
    Securities and Exchange Commission of Pakistan (SEC) Initiates action against so-called International Brokerage Companies: United Brokerage Consultant of Asad Kamran alias Muhammad Naeem.
    http://www.secp.gov.pk/news/jul_17_03.htm

    (SEC) Initiates action against so-called International Brokerage Companies.
    http://www.secp.gov.pk/news/pdf/News_03/jul_17_03.pdf

    Regulatory Action Against Illegal Brokerage Houses
    http://www.secp.gov.pk/newsletter/pdf/July_Sep_2003.pdf

  5. Mohsin November 11, 2012 at 12:51 am - Reply

    Yes, Mohammad Asad Kamran is Muhammad Naeem. It is same picture
    I saw his advertisement in Ibrahimi Restaurant n called. We met n he asked to open account with him n there wil be 10% to 15% profit everymonth on my investement. He is working with ELFINA. Is he really arrested by?
    Thank God i did not trust him and invested my money

  6. Publisher November 8, 2012 at 9:18 am - Reply

    Muhammad Asad Kamran case is under trial by National Accountability Court No: 5, Lahore, Pakistan.
    Accountability Court Reference No: 26/2007.
    As per Court Record 112 people were cheated with Total amount: 68.630 Million Rupees in 2002 to 2003 & the same amount in 2012 is equal to 114 Million plus rupees because of Pakistani rupee devaluation in 10years.
    Recovery Amount should be based on current market price which is increased two plus times & also 10years rollover profit or interest amount.

  7. Ayesha November 8, 2012 at 8:50 am - Reply

    OMG, I can’t believe this!
    Muhammad Naeem is actually M. Asad Kamran.
    I saw the Interpol link n this is him, no doubt, 100% my God. But how did he live in UAE on fake documents from past 8years
    Unbelievable

  8. Qureshi November 7, 2012 at 12:56 pm - Reply

    Arrested by Interpol Dubai….He is behind BARS….

    Our Courts leave them and never punish that’s why they go around and destroy our country name…

  9. salman November 7, 2012 at 2:16 am - Reply

    God should punish those type of people.

  10. Publisher November 7, 2012 at 2:10 am - Reply

    Asad Kamran of United Brokerage Consultant wanted by INTERPOL POLICE
    http://www.interpol.int/Wanted-Persons/(wanted_id)/2008-2643

  11. Publisher October 24, 2012 at 4:36 am - Reply

    United-brokerage-consultant-pvt-ltd, CEO Mohammad Asad Kamran s/o Mohammad Iqbal, travelled Dubai in 2003 to 2004 on forged documents under Mohammad Naeem s/o Sabar Ali. Since then he was working in Dubai under Mohd Naeem name and on 27th June, 2011, he went Pakistan where he was arrested in NAB case(National Accountability Court #.5,Lahore). In June 2012 he was arrested by Dubai Govt authorities in a criminal case. His case trial is under Mohammad Naeem so Sabar Ali name.
    His Dubai identity is Mohammad Naeem so Sabar Ali n if this identity is fake then how did he enter Dubai again on fake ID?
    OR National Accountability Court #.5,Lahore has confirmed his forged identity as his legal identity?
    Asad Kamran father name is Mohammad Iqbal but Mohammad Naeem father name is Sabar Ali, my question how someone can change his dead father name and who approved it?
    National Accountability Court #.5,Lahore knows he is in Dubai or they don’t know?

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