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+--- Thread: Karachi: FIA arrests 3 directors of 'Noori Textile Mills' (/showthread.php?tid=6572)
Karachi: FIA arrests 3 directors of 'Noori Textile Mills' - Naveed Yaseen - 08-06-2009 06:51 AM
KARACHI: The Federal Investigation Agency (FIA) Crime Circle has arrested three directors and the manager of a Noori Textile Mills over allegations of being involved in a fraud worth Rs 60 million. FIA Crime Circle’s Sub-Inspector (SI) Mansoor Mohmand told Daily Times that the arrested directors are Noor Tawakkal, Zikria Ghani and Khalid Abid Shah while Munir Ahmed is the manager. An FIA team arrested the men from different parts of the city and also recovered shares of the mill worth Rs 60 million from a hideout in Akhtar Colony. The official further said that Noori Textile Mills was seized from the possession of the three arrested directors in 1993 over various cases. The directors had managed to regain its possession in 2006 and started their illegal business of fake shares. “Various individuals had complained to the Securities and Exchange Commission of Pakistan (SECP) in this regard and finally the FIA conducted an operation against the textile mill. Many prominent names are also involved in this business and an inquiry is being conducted,” he added. The official further said that the Tawakkal family was involved in various cases of fraud and six members of the family have fled abroad while some are locked up in jails. faraz khan
http://www.dailytimes.com.pk/default.asp?page=2009\08\06\story_6-8-2009_pg7_37