Double Shah
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Syed Sibtul Hassan Shah alias Double Shah was a teacher who started a financial scam in Pakistan. Syed Sibtul Hassan Shah, who is in aged between 40 - 45 and is known as ‘Double Shah’, is the resident of Pak town - a lower middle class area - in Wazirabad, a tehsil of Gujranwala. [1]
He is a BSc and BEd and was a science teacher at Government High School, Nizamabad till 2005. After taking leave from his job he went to Dubai where he stayed for about six months. Upon his return about 22 months ago, he left his job and started motivating people to hand him over their savings which he would return in double in just 15 days. A fellow teacher and his former colleague told this scribe that he approached his colleagues and neighbours. The first person to trust him was his next-door neighbour who has a marble business. He was followed by many of Shah’s colleagues. They all got their investments doubled in 15 days. He offers double only, no more no less.[2].
This was a Ponzi scheme where investors were offered 100% return on their investment in just 15 days, later extended to 70 days. Double Shah was arrested by the Gakhar police on 13th April 2007 from his Nazimabad house on charges of Rs. 30,000 robbery. He is now in the custody of the National Accountability Bureau. The amount of money that he earned during his 18 months of business was over Rs. 70 billion.
[edit] External links
http://www.nation.com.pk/daily/apr-2007/6/index6.php http://www.nation.com.pk/daily/apr-2007/14/index5.php
he had come from dobui with a idea that in case of doble mony he makes 20,000,000 rupees and runaway but look the people interest he can't stop his lust this news tell us his best friend and bussiness partner. waheed janjua uk wala
