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LAHORE: Director General, National Accountability Bureau (NAB) Lahore, Amjad Majeed Aulakh took a swift action over a mega sugar scam by authorising an instant Inquiry into the disappearance of a sugar broker, named Sheikh Raashid, absconding with billions of rupees in investments from traders and sugar stockists across Punjab.

Keeping in view, a high-level investigation team has been constituted to probe the multi-billion scam that has left countless investors of Punjab and several cities of Sindh in distress.

As per details, the NAB investigation team’s initial raids uncover a web of deceit by revealing warehouses and shops in Sadiqabad, being used to stock misappropriated commodities by accused Sheikh Raashid and his accomplices. Taking decisive action under Section 12 of NAO 1999, DG NAB-L froze all properties and stocked commodities owned by the accused persons and appointed Assistant Commissioner (AC) Sadiqabad as “Receiver” for the frozen assets.

It’s pertinent to mention here that NAB-L is pursuing a robust investigation against prime accused Sheikh Raashid along with accomplices named Kashif Ali and Faisal Ali, under the National Accountability Ordinance, 1999 and Anti-Money Laundering Act, 2010 and investigating the misappropriation of public funds worth billions.

Chairman NAB, Lt Gen Nazir Ahmed (retd) has issued clear instructions for employing priority to the cases pertaining to general public investments to ensure justice is served. In this regard, NAB-L urges all affected investors of the sugar scam to remain calm and cooperate with the ongoing investigations. However, all those affectees who have not contacted the Bureau, till date, are encouraged to submit their claims in NAB Lahore without any delay.

Copyright Business Recorder, 2024

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