ISLAMABAD – NAB Rawalpindi has arrested accused Major (R) Atif Qayyum onthe charges of cheating at large as he lured general public to invest inhis so called gold business.
It was alleged that Major (R) Atif Qayyum was involved in Gold Trading Scamthrough taking money from public as investment /loan to be invested indaily trade of physical gold through different gold trading companies.
As per details, the accused promised good profit (6 %to 7% approx) onmonthly/5 weeks cycles basis to the affectees.
He also ensured investors that trade would be conducted according toshariah basis and at any given end-of -trade; physical gold in form of goldbricks would be transferred to Atif’s Vault, being maintained by tradingcompanies.
During the inquiry, it has revealed that Major (R) Atif Qayyum did not haveany such business neither the earning of such lucrative profits as hecommitted to the investors and cheated people at large.
Sources informed Daily Times that Major (R) Atif Qayyum had previously beenbrought back to the country by military authorities and investigated tillhis retirement. Many victims of his fraud include widows, retired armypersonnel and their other family members.
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The retired major was also able to operate his fraud from different citiesdespite being on duty in Pano Akil, near Sukkur. It is not yet revealed howhe was able to move around major cities whilst on duty.
DG NAB Rawalpindi said that NAB under the dynamic leadership of ChairmanNAB is determined and committed to eradicate corruption from the countrywith firm resolve with absolute objectivity, thorough professionalism, andunimpeachable integrity and without any leanings for or against anybody.
He said NAB is making all out efforts to recover the looted money fromcorrupt elements. However, this practice to invest in the unauthorizedschemes should be checked timely through proper awareness about the legalhousing societies by all the regulators.
