Home / General / Name of Director / Chief Executive Officer of Natover Leasing Company Involved In Massive Fraud / Cheating Of Rs.708 Million Put On Exit Control List

Name of Director / Chief Executive Officer of Natover Leasing Company Involved In Massive Fraud / Cheating Of Rs.708 Million Put On Exit Control List

Peshawar: NAB has put the name of Mr. Nadeem Hamid Sheikh Director /CEO, Natover Leasing and Re-finance limited (NLRL) on ECL and assets of the CEO and his family members have been frozen. NAB KP has started inquiry against Directors of Natover lease and Re-finance Limited (NLRL), Natover International Private Limited (NIPL) and Orion Investment Company and significant progress has been made so far to ensure payment to the affectees. Dozens of affectees are registering their claims against the said companies on daily basis. The total liability calculated against the companies in initial probe calculated as Rs.708 Million.

The companies Directors were involved in massive scale cheating public at large and deprived hundreds of affectees of their hard earned money on the pretext of giving them exorbitant profit / return. Scrutiny of the record reveals that investments were made in NLRL by the complainants for getting higher returns.

To establish public confidence over the companies the investors were paid profit for some time but later on the same were stopped and even the principal amount were not returned back. Efforts are in hand to unearth their assets and money trail where the amount has been siphoned out.

For more information, contact:
Government of Khyber Pakhtunkhwa
Tel: 091 921 1789
Email: info@khyberpakhtunkhwa.gov.pk

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