World

Changes in the work of land-based casinos

Published

5 years ago

October 30, 2020

2020 has been a challenging time for us all. After several months of a complete lockdown, it became clear that the world would not remain the same. It has created the greatest economic recession in history. COVID-19 panic has caused essential changes in all the business industries, and reorganization has not omitted good old gambling as well. Stay tuned to learn every single innovation that the harsh time has provoked.

Face control has never been so strict

Now you will have to wear a mask not only when going to the grocery store – all the casinos that have already reopened their doors have accepted strict policies to prevent disseminating the virus. To enter the institution, one must now wear a mask. However, some businesses have turned a need into a great marketing strategy, providing the clients with their own branded masks.

Additionally, temperature screening is required in all casinos worldwide. The guests with symptoms of respiratory conditions are not allowed to enter. Security carefully watches for each of the customers to be healthy. So now it is not enough to be of legal age to be allowed to try poker, slots, or roulette – keep a watchful eye on your condition before deciding to visit a casino.

Rearrangement: perfect for introverts

Apart from temperature screening and masks, gambling services are also trying to minimize the risk of rearranging gaming spaces. If you are a fan of social distancing, that’s great news for you. Now each and every slot machine is blocked off, and there is a considerable distance between the gaming machines. This should help avoid direct contacts between the clients. Thus, your personal space has never been so safe before.

However, if you still don’t feel safe to visit such places, we may offer you to play online casinos not to lose your skills. Follow the NativeCasinos page to know more about all the gambling nuances and to choose the right platform. Hundreds of reviews, games demo versions, advice on payment methods, and more have been prepared for you.

Service struggles

It is also critical to make sure that the casino room is free of viruses. Thus, many institutions that were known for working 24/7 are now obliged to close their doors for cleaning and disinfection.

Plus, casino restaurants and bars are closed during a period of the pandemic. So if you are eager to order several beverages or a snack, it is always better to have lunch before going gambling. Even though these nuances might not be convenient, it is essential to take these measures as not to spread the pandemic.

All these aspects make physical casinos not as convenient and atmospheric as they used to be. But fortunately, there is an option which will help avoid all the disadvantages. We are talking about online gambling services that provide their visitors with around-the-clock fun and support. You can try one of the millions of games offered on hundreds of websites in the comfort of your own home. You will also be surprised by the variety of bonuses, currencies, games, and designs you can select from.

Thus, even though COVID-19 has created numerous restrictions, the choice of how to have fun gambling is still on you. If you are a physical casino enthusiast, you will need to get used to the increased number of rules; however, it is always better to choose online casinos: stay home and fight the virus while playing.

World

TRG Chairman Khaishgi and CEO Aslam implicated in $150 million fraud

Published

7 days ago

June 23, 2025

Jenny Jackson

In a scathing 52-page decision, the Sindh High Court has found that TRG Pakistan’s management was acting fraudulently and that Bermuda-based Greentree Holdings historic and prospective purchase of TRG shares were illegal, fraudulent and oppressive.

The Sindh High Court has further directed TRGP to immediately hold board elections that have been overdue and illegally withheld by the existing board since January 14, 2025.

In the landmark ruling, the Sindh High Court has blocked the attempted takeover of TRG Pakistan Limited by Greentree Holdings, declaring that the shares acquired by Greentree, nearly 30% of TRG’s stock, were unlawfully financed using TRG’s funds in violation of Section 86(2) of the Companies Act 2017.

“Having concluded that the affairs of TRGP are being conducted in an unlawful and fraudulent manner and in a manner oppressive to members such as the Petitioner (Zia Chishti), the case falls for corrective orders under sub-section (2) of section 286 of the Companies Act,” Justice Adnan Iqbal Chaudhry concluded.

The case was brought by TRGP former CEO and founder Pakistani-American technology entrepreneur Zia Chishti against TRG Pakistan, its associate TRG International and TRG International’s wholly-owned shell company Greentree Limited. In addition, the case named AKD Securities for managing Greentree’s illegal tender offer as well as various regulators requiring that they act to perform their regulatory duties.

The case centred around the dispute that shell company Greentree Limited was fraudulently using TRG Pakistan’s own funds to purchase TRG Pakistan’s shares in order to give control to Zia Chishti’s former partners Mohammed Khaishgi, Hasnain Aslam and Pinebridge Investments.

According to the case facts, the Chairman of TRG Pakistan Mohammed Khaishgi and the CEO of TRG Pakistan Hasnain Aslam masterminded the $150 million fraud. They did so together with Hong Kong based fund manager Pinebridge who has two nominees on TRG Pakistan’s board, Mr. John Leone and Mr. Patrick McGinnis.

According to the court papers, Khaishgi, Aslam, Leone, and McGinnis set up a shell company called Greentree which they secretly controlled and from which they started buying up shares of TRG Pakistan. The fraud was that Greentree was using TRG Pakistan’s funds itself. The idea was to give Khaishgi, Aslam, Leone, and McGinnis control over TRG Pakistan even though they owned less than 1% of the company, lawyers of the petitioner told the court.

This was all part of a broader battle for control over TRG Pakistan that is raging between Khaishgi, Aslam, Leone, and McGinnis on one side and TRG Pakistan founder Zia Chishti on the other side. Zia Chishti has been trying to retake control of TRG Pakistan after he was forced to resign in 2021 based on sexual misconduct allegations made by a former employee of his. This year those allegations were shown to be without basis in litigation that Chishti launched in the United Kingdom against The Telegraph newspaper which had printed the allegations. The Telegraph was forced to apologize for 13 separate articles it published about Chishti and paid him damages and legal costs.

After Chishti resigned in 2021, Khaishgi, Aslam, Leone, and McGinnis moved to take total control over TRG Pakistan and its various subsidiaries including TRG International and to block out Chishti. The Sindh High Court’s ruling today has reversed that effort, ruling the scheme fraudulent, illegal, and oppressive.

It now appears that Zia Chishti will take control of TRG Pakistan in short order when elections are called. He and his family are now the largest shareholders with over 30% interest. He is closely followed by companies related to Jahangir Siddiqui & Company which have over a 20% interest. The result appears to be a complete vindication for Zia Chishti and damning for his rivals Aslam, Khaishgi, Leone, and McGinnis who have been ruled to have been conducting a fraud.

TRG Pakistan’s share price declined by over 8% on the news on heavy volume. Market experts say that this was because the tender offer at Rs 75 was gone and that now shares would trade closer to their natural value. Presently the shares are trading at Rs 59 per share.

According to the court ruling, since 2021, shell company Greentree had purchased approximately 30% of TRG shares using $80 million of TRG’s own money, which means that that the directors of TRG Pakistan allowed company assets to be funneled through offshore affiliates TRG International and Greentree for acquiring TRG’s shares – a move deemed both fraudulent and oppressive to minority shareholders. The Sindh High Court also found illegal Greentree’s further attempt to purchase another 35% of TRG shares using another $70 million of TRG’s money in a tender offer.

The ruling is a major victory for the tech entrepreneur Zia Chishti against his former partners and the legal ruling paves the way for him to take control of TRG in a few weeks.