HASCOL Petroleum Limited, the darling of investors within Pakistan as well as abroad who track Pakistani markets, appears to be a basket case of corporate malpractices and fiduciary malfeasance by the management. According to the reports of Baaghi TV, Pakistan’s biggest financial scandal has unveiled right in front of us as HASCOL – a public listed company – has failed to hold an annual general meeting and declare its audited finances. Now, everyone from the top management of the company as well as some government officials are running to save their skin. Details reveal that what has happened in HASCOL is nothing less than a criminal enterprise that has taken the money from poor investors and accumulated debt based on fraudulent accounts and fake purchase orders. The scam is clear and Hascol is still trying to cover up the fraud. However, there are some questions that need to be answered: How did HASCOL go from Rs389.41 per share a share to Rs7.02 a share? When the company was accumulating losses, how and why did the banks extend so much facility to HASCOL without due diligence and took on such a high risk exposure? Why has the board been reconstituted and directors … Continue reading HASCOL – Massive Corruption of Multi-Billion Rupees EXPOSED!