News
Thursday, April 12, 2012
NAB puts NLRL CEO on ECLStaff Report
PESHAWAR: The National Accountability Bureau (NAB) on Wednesday put Natover Lease and Refinance Limited (NLRL) Director/CEO Nadeem Hamid Sheikh on the Exit Control List (ECL) and ordered freezing of his and his family members’ assets.
“NAB Khyber Pakhtunkhwa has started inquiry against the Natover Lease and Refinance Limited, Natover International Private Limited (NIPL) and Orion Investment Company. Significant progress has been made to ensure payment to the victims,” NAB said in a press statement.
Dozens of victims had been filing claims against the aforementioned companies on daily basis, the NAB statement said, adding, “According to initial probe, the total liability against the companies was found to be Rs 708 million.”
The statement said the companies’ directors had been involved in “massive-scale cheating” of the public at large and had deprived hundreds of people of their hard-earned money on the pretext of high returns.
Courtesy www.dailytimes.com.pk