ISLAMABAD – The National Accountability Bureau (NAB) Rawalpindi has arrested Hassan Waheed Director of M/S AWJ Securities Pvt Ltd, allegedly involved in corruption of Rs 260 million and cheating public at large for the purpose of sale and purchase of shares in Stock Exchange.
According to a press release issued here on Wednesday, a complaint received from Stock Exchange Corporation of Pakistan (SECP) according to which Director of M/S AWJ Securities Pvt, Ltd have defrauded public at large, 120 complainants have filed complaints against the accused, total liability of accused is Rs 260 million approximately.
The accused Hassan Waheed, Director M/S AWJ Securities Pvt Ltd with fraudulent intentions collected huge amount from public at large for the purpose of sale and purchase of shares in stock Exchange with malafide intentions that amount in his own use.
The NAB presented Hassan Director of M/S AWJ Securities Pvt Ltd, before the Accountability Court. The Court has granted physical remand to the NAB for 10 days.
Earlier, Qamar Zaman Chaudhry, Chairman NAB has taken cognizance of two cases on a complaints lodged by Chairman, Securities and Exchange Commission of Pakistan (SECP) regarding MR Securities (SMC-Private) Limited (MRSPL) and AWJ Securities Private Limited.
The two brokerage houses registered with SECP have been complained against for non-transfer/non delivery of Securities and non-payments of cash to the investors. It has been alleged that MR Securities (SMC-Private) Limited (MRSPL) and AWJ Securities Private Limited brokerage House’s Directors/Management have cheated investors at large through fraudulent means.
The Chairman NAB has taken serious notice of the matter and ordered NAB Islamabad/ Rawalpindi and NAB Lahore to conduct inquiry on the complaint under NAO -1999 following under their respective jurisdiction.
Earlier, in line with Chairman NAB’s firm resolve and commitment to eradicate corruption and corrupt practices from the country, NAB and SECP have created a Joint Task Force comprising of senior level officers of NAB and SECP in order to work expeditiously on corruption cases referred by SECP to NAB.-Online