MULTAN: National Accountability Bureau (NAB) has arrested four accused of Golden Chain International Private Limited for embezzling Rs 260 million through cheating.
Those arrested included owners/proprietors of M/s Golden Chain International Private Limited Chief Executive Officer Muhammad Ijaz, Managing Director Mian Zahid Lateef, Director Muhammad Ashraf and Secretary Amjad Ali Shaheen.
According to a press release issued here Thursday, the accused have committed offense of cheating public at large by indulging in multi level/pyramid marketing scam. They committed the offence in connivance with a number of other co-accused persons by luring hundreds of people / general public and swindled them for millions.
The accused persons used to attract and collect fund from general public by offering profit/commission to members on purchase of different products of their company, illegally operating all over Pakistan i.e. M/s Golden Chain International Private Limited.
The management of company collected the money and went into hiding.
Further it was revealed that initially the company received Rs260 million from individuals by offering them exorbitant rates of commission on purchase of various products offered by the company and introducing new members.
Sixty two (62) complainant filed their complaints against M/s Golden Chain with NAB Multan. The accused had gone into hiding and absconded from joining investigation but now they have been arrested. Accused persons will be produced before Accountability Court tomorrow (April 28) for physical custody.
NAB Director General Atiq Ur Rehman said that NAB Multan is strictly following zero tolerance against corruption and corrupt practices, assuring that case would be investigated transparently.
