TOBA TEK SINGH-An FIA team, accompanied by Gojra AC Asif Ali Dogar and DSP Azhar Yaqub Gujjar, on Tuesday raided and sealed three offices of a motorcycle selling company involved in fraud of millions of rupees. The lawmen also arrested four staffers from the offices.

MNM motorcycle company Manager Nadeem Bandesha and his three accomplices have been put behind the bars after registration of fraud case against them while team recovered 25 motorcycles, Rs100,000 cash, an illicit pistol, computers and cellphones. The officials also seized record registers of the company which show that millions have been received from the citizens. However, there is only Rs1.3 million in the bank accounts of the company.

The Gojra AC had written to the Toba deputy commissioner that the MNM motorcycle company had established its network in Gojra and other cities of the district which receives cash deposits from the general public for investment purpose. The company offers whosoever invests Rs25,500 in cash to get bike in 45 days and in case, the persons does not interested in getting bike, he/she is paid Rs36,000 (with a profit of Rs10,500) in just 45 days.

The AC’s letter added that each person who works for company is also paid Rs2,000 per bike as commission. It added that in reply to his letter, the Security Exchange Commission of Pakistan advertised through newspapers that the MNM Company is unlawfully soliciting money from public in the name of advances for purchase of bikes. The SECP had advised the public to avoid giving any deposit to the company. The AC added in his letter to DC that scores of people had deposited money as investment and people are complaining that fraud might be occurred as millions had been collected by the company.

The Toba DC forwarded the AC’s letter to the FIA and FIA raided and sealed its offices at Gojra. At the time of raids scores of affectees gathered outside company offices who feared that their money of millions of rupees will be misappropriated.