Karachi: Bail of businessman accused of fraud rejected
Karachi: The Judicial Magistrate rejected a bail plea of a suspect accused of fraud on the grounds that roughly 40% of such cases fraud cases reported were being ignored by the administration and if the judiciary follows the same policy, the crime would be allowed to run rampant.
Mohammad Amir, the chief executive officer (CEO) of a company who would borrow money in the name of investment was produced in the court of Judicial Magistrate South Hatim Aziz Solangi on Thursday for a bail plea, but was rejected.
As the accused was already in jail, he was remanded back in prison with directives issued to the investigation officer to submit a challan on the next date of hearing.
When the case came up for hearing, the Assistant Public Prosecutor Syed Shamim Ahmed said it is unfortunate that several companies had opened up in the city which hoodwink innocent people in the name of investment. These companies promise large profits, but vanish after just two or three months. After hearing the arguments, the court rejected the bail plea
According to the prosecution, Mohammed Amir, along with three absconding associates Mohammad Ejaz Ahmed Qureshi, MS Rubina and Dr Tasneem, was running a business in Glass Tower Clifton and fraudulently borrowed the huge amount of about Rs31 million from a businessman named Mohammad Shaban on August 19th 2011 to invest into a scheme and promised to give him a share out of the profit. The complainant, Shaban became suspicious when Mohammad Amir gave him two cheques of Rs 10 million, both of which bounced. He later filed a petition in the court of District and Sessions Judge for the registration of an FIR. Subsequently, an FIR was lodged in the Clifton Police station; following which the accused Mohammad Amir was arrested on September 25. However, three of his accomplices remain at large.
In the meantime, Ejaz Ahmed Qureshi and Dr Tasneem obtained an interim bail on a surety of Rs Rs100,000 from ADJ I South. The Magistrate later adjourned the case till October 20th.
Meanwhile the same court remanded two suspects allegedly involved in target killing in police custody till October 15th. Daniyal Hussain and Faisal Anari were produced in the court on Thursday. Both were wanted in several cases by different police station. They were arrested by the Clifton police on Wednesday and nominated in about five FIRs regarding the possession of a large number of illicit weapons, plus attempt to murder and robbery in different areas of the city.