ISLAMABAD: The National Accountability Bureau (NAB) on Wednesday arrested a man for cheating the public by promising them good profit in a fake gold business.

According to a NAB spokesperson, retired Maj Atif Qayyum collected money from the public to invest it for them in various gold trading companies.

The accused is said to have promised a profit of 6pc to 7pc on a monthly and five-week cycle basis and promised investors the business is Sharia compliant.

During an inquiry, it was found that Atif Qayyum had no such business nor could he give investors the profit he promised.

NAB Rawalpindi Director General Irfan Naeem Mangi said the bureau was determined to eradicate corruption from the country and was making efforts to recover looted money from corrupt elements. He warned the public against fraudulent schemes.

He asked regulators to check illegal housing schemes and urged people to only invest in legal, authorised and properly approved housing societies.

Published in Dawn, March 14th, 2019