GILGIT: National Accountability Bureau (NAB) Rawalpindi’s Gilgit sub-office has arrested Chief Executive Officer (CEO) of the financial company Big Board Advisory Service (pvt) Ltd, Abbas Haider Naqvi.
Naqvi was wanted by the Police for minting almost Rs185 million from investors in Gilgit-Baltistan, promising them 18-36 percent return on investment, said a statement.
The investors were also promised 100 to 15 % returns on investments for five years. A large number of small savers and investors gave their money to the company over a period of several years and after collecting money, the fraudsters vanished from the screen, cheating thousands of people.NAB had received 1,019 complaints against the Company, demanding return of their investment and punishment for the fraudsters.
Directors including Syed Sarosh Haider, Arif Khan, Rehman Khan, Muhammad Sadiq Khan and Rehan Khan have already been punished in this case, while Abbas Haider Naqvi was on the run.Naqvi will be presented in NAB court Karachi, from where his remand will be transferred to Gilgit office of NAB for further investigation.
