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| February 18, 2006 | Saturday | Muharram 19, 1427 |
Security firm director flees to US
ISLAMABAD, Feb 17: The director of a private security firm declared defaulter by the Islamabad Stock Exchange (ISE) fled to the United States despite that his name had been put on the Exit Control List, Dawn has learnt.
The National Accountability Bureau (NAB) was questioning four directors of Mega Security firm for defrauding the investors of approximately Rs7.389 million. Mehmood Shaukat, one of the directors, managed to flee to the United States though his name was on the ECL.
According to the information, some 350 investors have been affected by the scam. They include mostly senior citizens and retired civil and military officers.
The affected investors had urged the president and prime minister to order an investigation into the fraud and bring the culprits to book. The firm was declared defaulter by Islamabad Stock Exchange and was shut down. So far, the firms assets are estimated to be around Rs30 million.—Our Reporter
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