- The alleged fraudsters used shadow companies.
- Ensnared unsuspecting citizens.
- Not a single accused has been arrested in two years.
KARACHI: A new car and housing finance cyber scam worth billions of rupees has come to light in which two accused defrauded hundreds of people without getting caught after setting up shadow companies on leading e-commerce websites.
The victims claim that despite the registration of more than two hundred FIRs, the accused are walking freely.
According to a report, the alleged fraudsters lured first-time buyers into their nets by tricking them into buying cheap houses and vehicles offered by shadow companies on a popular e-commerce website.
After obtaining a down payment from an unsuspecting victim, the company will then employ delay tactics using complex contract clauses. When a distressed victim approached the police or filed an FIR, the criminals would change the name of the shadow company and its staff.
As per the documents available with Geo NewsThe case against these companies was transferred from the High Court to the National Accountability Board (NAB) in 2021, but after two years, nothing came of it.
The victim’s lawyer Azhar Abbas Naqvi says that the total number of victims of these fly-by-night companies is said to be 716 while the number of FIRs registered against them is 200.
“However, neither any main accused has been arrested nor any victim’s money has been recovered so far,” Naqvi said.
Geo News Repeated attempts were made to reach the accused by calling them on their given numbers but without success.