KARACHI: National Accountability Bureau (NAB) has arrested accused Mufti Abdullah Shaukat in Rs 7.2 billion modarba scam through Interpol from UAE.
The accused was wanted in a NAB Reference regarding modarba scam whereby one Shafiqur Rehman had cheated public at large by collecting Rs 7.2 billion under false promises of investment and profit, NAB- Karachi said here on Sunday.
The ponzi scheme was run by syndicate of 12 accused in an organised manner by which they had been successful in defrauding innocent people in Karachi.
Arrested accused Mufti Abdullah Shaukat was wanted for issuing false Fatwa declaring the illegal business of Shafiqur Rehman as legal and under Islamic laws.
The accused was also in connivance with main accused Shafiqur Rehman in execution of crime, who was beneficiary of huge sums of illegal amount extorted from general public under the name of Islamic investments.
The accused would be produced before local Accountability Court after legal formalities.
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