Nine bank accounts belonging to two Chinese companies and 4 individuals were frozen on the request of the Accountability Court of Karachi for fraudulent activities.
According to the Accountability Judge, the alleged offenders committed a fraud of Rs.1.1B by cheating the public through fraudulent investment schemes.
The Accountability Judge, Mukesh Kumar, issued a statement that says,
“The suspicious accounts operated in the names of two companies — Gold Transmit Network Technology (Pvt) Ltd and Green Apple Super Market (Pvt) Ltd — and by four Chinese individuals be frozen.”
Earlier this year, the director general of NAB also issued directives for freezing the bank accounts used by the offenders that they used for receiving “proceeds from the commission of the offences”.
Securities and Exchange Commission of Pakistan (SECP) filed a complaint after finding these companies involved in pyramid schemes and multi-level marketing (MLM).
NAB identified four individuals as suspects named Wang Guo Hai, Yu Rong Hua, Chen Zhi Wei and Chen Jian Yong. An estimated Rs1.1 billion have been transferred to these accounts. According to NAB reports, these suspects had accounts in four private banks’ branches in Lahore and Karachi.
