LAHORE - The National Accountability Bureau (NAB) has launched investigations against the Al-Nafay Traders for fraudulently depriving innocent traders worth Rs10 million.
Official sources said that the financial crimes investigation wing, through a newspaper advertisement, had asked the victims to submit their claims within two weeks.
Rao Shamshair Ali and Rao Shamshad Ali plundered millions of rupees from several local traders by establishing a fake firm at the medicine market in Lohari Gate. Both the residents of (House No 3) Eden-Extension Airport Road fled after collecting millions of rupees from the traders in the name of business investment.
According to one of the victims, Syed Mehtab Hussain, the fraudsters handed over bogus cheques to the different small traders as guarantee. After sometime, the proprietors disappeared from the market. Many traders were shocked as they found that the Al-Nafay Traders no more exists in the market. Lahore police have registered several cases against Rao Shamshair Ali and Rao Shamshad Ali, the proprietors of Al-Nafay Traders, on the complaints of traders for issuing them bogus cheques. Police are unable to arrest the culprits since they had fled abroad.
The victims say they believe the fraudsters have invested the looted money in Dubai, where they have established new businesses. Later, the victims appealed the NAB authorities to help them recover their assets from the fraudsters besides taking legal action against them.