LAHORE: The National Accountability Bureau (NAB), Lahore, has arrested an absconder in a Rs15 million case.

According to NAB, Rashid Ashraf was declared a proclaimed offender by court in 2015 for absconding the court in the case. He was operating different forex trading offices to lure the public into forex investment with a promise of delivering profits on exorbitant rates.

The suspect neither paid profit nor returned the invested amounts after closing his offices.

The agents of M/s High Aim Business Solutions (Pvt) Ltd used to introduce the complainants with the company director (Ashraf) who induced the complainants to pay minimum amount of Rs3 million to open a trading account in his company.

Numerous affected people had approached the NAB regarding the scam in late 2013. It launched an inquiry into the complaints which was later turned into investigation in 2014. Subsequently, the NAB filed a corruption reference in an accountability court which declared Ashraf a proclaimed offender.

Published in Dawn, September 27th, 2017