The big scam if Double Shah

 

He got 7Billion Rupees from Pakistanis but he was arrested by NAB give only 3Billion Rupees.

The Double Shah scam was a notorious financial fraud that took place in Pakistan in 2009. It was named after its mastermind, a businessman named Syed Sibtul Hassan Shah, who ran a Ponzi scheme that defrauded thousands of people out of their life savings.

Double Shah promised investors high returns on their investments, which he claimed were being invested in real estate and other ventures. He used a network of agents to lure in new investors, many of whom were poor and uneducated, and promised them returns of up to 40% per month.

In reality, Double Shah was using the money from new investors to pay off earlier investors, in classic Ponzi scheme fashion. When the scheme collapsed, thousands of people were left penniless, and Double Shah was arrested and sentenced to 14 years in prison.

The Double Shah scam was a tragic example of how financial fraud can prey on vulnerable people and destroy lives. It is a reminder that investors should always be cautious and do their due diligence before investing their money, and that regulators need to be vigilant in protecting the public from financial fraud.

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