PESHAWAR - National Accountability Bureau (NAB) Khyber Pakhtunkhwa arrested Nadim Hamid Sheikh, Chief Executive Officer Natover Lease and Refinance Limited and Natover International Pvt Ltd allegedly involved in defrauding a number of people to the tune of Rs708.00 million in connivance with others.
The M/s Natover Lease and Refinance Limited illegally raised deposits from the public against unauthorised instruments/ certificated called Repo Security Deposits Receipts (RSDRs)) to the tune of Rs708 million on the promise of exorbitant rate of return. For sometime profit was paid to the investors/complainants on their investments but later on it was stopped.
The investors are neither being paid profit nor their principal amount is being returned and looted the hard money of general public.  Thus huge number of people was defrauded.
So far 200 affectees have lodged complaints against the company. In pursuance of warrant of arrest issued by Chairman NAB, a raid was conducted and the alleged accused was arrested. The accused will be produced before the Accountability Court Peshawar on today (Thursday).