ISLAMABAD: Square Nine International, an Islamabad-based real estate agency, has been exposed to fraudulent activities as victims of the company gathered outside the National Press Club in Islamabad to demand justice.
According to the details learned by Daily Ausaf, the firm registered under the Companies Act 2017, solicited investment from people in the name of a commercial project and defrauded 6 billion. Square Nine lured people over monthly profit and after completing a year of investment the company promised to buy back the sold property, guaranteeing a profit.
However, Waleed Malik, CEO of Square Nine International, built properties abroad, closed offices, and went into hiding. Victims demanded money to be returned as multiple cases have been filed against the company CEO.
Outside the National Press Club, victims protested by carrying “provide justice” play cards and banners. Malik Waleed defrauded locals and overseas Pakistanis of billions of rupees, inducing people to buy flats with false pretenses and promises that the properties would be rented out at home.
The protesters said that Square Nine International Private Limited defrauded locals and overseas Pakistanis of billions of rupees, inducing people to buy flats with pretenses and promises that the rent of the properties would be provided at their homes.
The people involved in the protest stressed that the government and the relevant institutions should investigate the matter immediately and provide justice to the victims of this scam and return their looted money.
Demanding that he should be brought to justice and the damages of all these victims should be remedied, the protesters said that dozens of FIRs have been registered against Malik Waleed, but his arrest is yet to be made.
The victims further said that due to the fraud of Square Nine Developers CEO Waleed Malik, the hard-earned money of many local people and overseas Pakistanis has been lost and their lives have been badly affected.
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