Federal Investigation Agency (FIA) on Wednesday arrested at least three persons for printing and selling out fake share certificates worth millions of rupees in the stock market. According to sources the FIA recovered fake share certificates (both filled and blank) worth over Rs 37 million from the custody of Niaz Ahmed Rind, Shehzad and Rehan from Pakistan Chawk in a raid led by Inspector Gulsher Mugheri.
They said a special team of FIA's Crimes Circle at around 4 pm raided an office, "Shah Graphics", and a printing press, "Rehan Prints", and recovered fake share certificates worth Rs 24 million and Rs 13 million which were ready to be issued to Norrie Textile Mills Limited (NTML) and SS Oil Mills Limited (SSOML) respectively. The sources said the FIA team on the directives of Director Crimes Circle Mir Zubair and Deputy Director Khalique-uz-Zaman arrested Rind, a share dealer, and recovered fake share certificates of Rs 13 million from his possession.
The law enforcers then apprehended Shehzad, who according to Rind was a graphic designer and mastermind of the entire plot, from his office at Pakistan Chawk, they added. During investigation, the sources said, Shehzad told FIA about Rehan who was owner of a printing press, which the group was using for printing the fake share certificates. They said the Agency personnel sealed the printing facility after recovering share certificates of million of rupees, rubber stamps, press plates, films, cheque books, transfer and verification letters etc. They said each certificate recovered from the press had a share value of Rs 500. An FIR No 78-2008 has been registered against the accused.
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