ISLAMABAD - The NAB has filed a reference against Mian Khurram Rasool and his brother Shahid Mehmood in an Accountability Court of Rawalpindi, charging them of committing fraud of over Rs151 million.

In the reference, the National Accountability Bureau (NAB) maintained that Khurram, the principal accused and proprietor of M/S True Concept Partnership Pakistan (TCP) and Paramount Rainbow Company (PARCO), induced the public at large to invest their money with these two companies.

Ostensibly, these companies were doing a business of sugar and scrap impersonating the Trading Corporation of Pakistan and Pak Arab Refinery Company Ltd; moreover, these companies never did any such business at all. Khurram was assisted by his brother and co-accused Shahid Mehmood in this cheating wherein they had collected around Rs151.017 million from general public.

In order to cheat the public, Khurram got opened the bank accounts in the names of his companies, True Concept Partnership Pakistan and Paramount and Rainbow Company, using abbreviations like TCP and Parco so that it appeared to be Trading Corporation of Pakistan and Pak Arab Refinery Company Limited. These accounts were opened with Askari Bank Ltd, Jinnah Avenue Branch, Islamabad and The Bank of Punjab, Satellite Town Branch, Rawalpindi. The accused have already been arrested and are in the judicial custody.

Meanwhile in another development, NAB has arrested Jawad Jamil, SO to former Ogra Chairman Tauqeer Sadiq in Ogra case. He is involved in the scam of bogus CNG licenses. Reportedly, he is also a close relative of Tauqeer Sadiq.

NAB has also issued arrest warrants of Ogra Member Finance Mir Kamal Marri and CEO Dewan Petroleum Dewan Ziaur Rehman Farooqi for their alleged involvement in corrupt practices in the affairs of Ogra during the tenure of Tauqeer Sadiq. NAB has asked Islamabad Police to arrest both the accused. Earlier, Ogra Member Gas Mansoor Muzaffar was arrested by NAB on May 16, 2012.