Stocks Observer. com

The National Accountability Bureau (NAB), Sindh taking cognisance of misappropriation of funds of investors by some unscrupulous brokers of Karachi Stock Exchange (KSE) has hinted at stringent measures against them and recovering the embezzled amounts. A decision to this affect was unveiled during a meeting held Thursday between the NAB and KSE. The NAB team was headed by NAB DG Maj (r) Shabbir Ahmed and accompanied by his team members, Director Ghulam Farooq, Deputy Director Ahmed Raza Tahir, Consultant Qudsia Kadri and Investigation Officer Rizwan Shah. The KSE team was headed by KSE Chairman Muneer Kamal and accompanied by KSE Managing Director Nadeem Naqvi, KSE Deputy Managing Director Haroon Askari and several other members of the KSE board. The KSE management was apprised that NAB is conducting criminal inquiries against five former brokerage houses and their accused directors on the charges of cheating public at large. These brokerage houses included Eastern Ca...