Karachi couple, car loan scam

Karachi couple swindles Rs50 million in car loan scam

Butt and Sons Pvt Ltd in Sindh capital is accused of looting millions of rupees in the name of a car finance scheme as fourteen cases so far have been registered against the missing owners.

Karachi police launched the investigation against the major scam in which a couple running car finance looted millions of rupees from hundreds of customers and later disappeared without a trace after closing all of the offices, said a report.

According to the victim of the latest scam, the company attracts applicants by posting on different sale and purchase websites.

The cheaters offered customers a car of their choice at a 5 percent interest rate and told applicants to come in person for paperwork, after which the applicant made a down payment by signing a contract.

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