Man who defrauded Rs145 million through ponzi scam arrested

The National Accountability Bureau (NAB) Khyber Pakhtunkhwa arrested the ex-area sales manager of a private company in Peshawar for defrauding people.
Jamal Khan Khattak has been accused of cheating the public at large and fraudulently collecting Rs145 million from innocent people in the name of fake investments in a private company.
“As per details, the accused Jamal Khan Khattak who was area sales manager of a private company in connivance with other co-accused persons lured innocent people to give them their hard earned money for fake investments, including vendor services, in the private company,” a statement issued by the bureau read.
Khattak initially paid “abnormally high profits” to investors but later not only stopped paying profits but also disappeared from the scene without returning the principle amount.
“The affectees when approached the company, found that the business of the accused had no affiliation with the company,” NAB said.
A reference has been filed against the accused in an accountability court.