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Sheikh Kamran penalised
 
June 13, 2012
 
 

LAHORE – An Accountability Court on Tuesday besides imposing a fine of Rs 27 million awarded 14-year imprisonment to Sheikh Kamran Mehdi, owner Mehdi Securities (Pvt) Ltd, on charges of fraud by cheating the public at large.

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As per the case details, the NAB Punjab authorized investigation against the accused on the complaints filed by the affectees alleging that the accused tempted the people for multiple earnings and then disappeared from the scene. The accused thus succeeded in minting money amounting to Rs 81 million from 170 persons. The Lahore Stock Exchange cancelled membership of the aforementioned company and in collaboration with NAB settled claims worth Rs 54m out of security deposited with it.
 while a liability of Rs 27m was pending against the accused.
JAVED IQBAL

 
 
on epaper page 15
 
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