Court Freezes Account of Rs602M Prpal.com Crypto Scam Owner
The Accountability Court has frozen the bank account of Muhammad Noman, the prime accused in a major cryptocurrency and forex trading fraud case involving losses of Rs602 million.
Judge Muhammad Hamid Mughal of the Accountability Court upheld the freezing order against the bank account of Grown Star (Private) Ltd, the company owned by Muhammad Noman. The account reportedly contains around Rs2.2 million, which prosecutors allege were acquired through illegal activities.
Special Prosecutor Habibullah Baig explained that Noman and his associates operated the online platform Prpal.com. The website promised high returns through cryptocurrency trading, forex trading, and real estate investment projects, attracting 131 victims who collectively lost Rs602 million.
The court was also informed that two vehicles previously purchased by the accused have already been frozen under an earlier court order.
Following arguments from both prosecution and defense, the court confirmed the freeze on the bank account and ordered that the decision be published in newspapers and communicated to the relevant bank authorities for enforcement.
This move forms part of ongoing efforts by Pakistani authorities to crack down on fraudulent cryptocurrency schemes and protect investors from financial scams proliferating in the digital assets space.