The National Accountability Bureau (NAB) on Friday claimed to have arrested four more accused in connection with multi-billion Modaraba / Musharaka scam. An official of NAB said that the bureau has arrested Nazir Ahmed, Muhammad Usama Abbasi and Ibrahim Al Shoraim, Directors of Mufti Ehsan-ul-Haq, one of the main accused, Fiazzi Group of Industries, in Rs 6.5 billion Modaraba/Musharaka scam.
He said that the accused persons in connivance with other people cheated and influenced public to make investment in their illegal Modaraba/Musharaka business against attractive profits. NAB is pursuing 81 cases of cheating public at large by way of illegal Modaraba/Musharaka business which are at different stages of investigation, he said.
The official said that the bureau has filed six references in Modaraba/Musharaka scam in the accountability court. The NAB has arrested 26 accused including Mufti Ehsan-ul-Haq, Mufti Ibrar-ul-Haq, Hafiz Muhammad Nawaz, Moeen Aslam, Obaidullah, Mufti Shabbir Ahmad Usmani, Sajjad Ahmed, Asif Javed, Ghulam Rasool Ayubi, Muhammad Hussain Ahmed, Hamid Nawaz, Muhammad Irfan, Bilal Khan Bangash, Mati-ur-Rehman, Muhammad Numan Qureshi, Syed Aksheed Hussain, Muhammad Adil Butt, Muhammad Saqib, Umair Ahmed and Khan Muhammad.
The NAB took up the case of multi-billion scam in March 2013 after receiving complaints from general public as well as Securities and Exchange Commission of Pakistan (SECP) alleging that Mufti Ehsan, chief executive officers of a private company and others are involved in illegal business of Modaraba/ Muharaka scam without getting approval from the concerned authority.
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