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Conspiracies are constantly being hatched against me: AKD

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KARACHI: Aqeel Karim Dhedhi has said that conspiracies were constantly being hatched against him.

He was talking to journalists here on Monday at Karachi Press Club after FIA arrested three of his directors.

Muhammad Iqbal, Muhammad Fareed Alam CEO AKD Securities and Tariq Adam Ghumra Director Head of Equity Operations have been accused by FIA if causing losses of Rs. 290 million to EOBI.

EOBI has purchased stocks of Messrs. Mtex, worth Rs330 million, in August 2010 on a research report prepared by AKD Securities.

EOBI said that after the purchase, share of the stock plunged to Rs. 2 within three months, causing them a loss of Rs. 290 million.

AKD lamented that it was not right to arrest people on research reports produced by them.

AKD said that it was for the first time in the country that people were arrested just for making research report.

 

 

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M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.