ISLAMABAD: Justice Javed Iqbal, Chairman National Accountability Bureau (NAB) chaired a meeting to review progress on Modarba Cases at NAB Headquarters.
During the meeting, it was informed that NAB Rawalpindi has filed corruption references in Accountability Court Rawalpindi against Muhammad Nazeer Chief Executive Officer (CEO) Islamic investment and other accused persons in the Modarba case on charges of corruption, corrupt practices and cheating public at large in the ploy of Islamic mode of investment in Rs. 95.52 million.
NAB Rawalpindi has filed reference in Accountability Court Rawalpindi against Muhammad Bilal of Bilal Trading Corporation and other accused persons in the Modarba case on charges of corruption, corrupt practices and cheating public at large in the ploy of Islamic mode of investment in Rs 48.410 million.
NAB Rawalpindi had filed reference in Accountability Court Rawalpindi against Muhammad Yasir S/o Muhammad Gulistan, Chief Executive Officer (CEO) Al Jazeera international and other accused persons in the Modarba case on charges of corruption, corrupt practices and cheating public at large in the ploy of Islamic mode of investment in Rs 5.95 million.
NAB Rawalpindi had filed reference in Accountability Court Rawalpindi against Shams ur Rehman Chief Executive Officer (CEO) M/s Al Baraka Marketing (PVT) Ltd and other accused persons in the Modarba case on charges of corruption, corrupt practices and cheating public at large in the ploy of Islamic mode of investment in Rs. 25.02 million.
NAB Rawalpindi had filed reference in Accountability Court Islamabad against Ghulam Rasool Ayubi and others persons in the Modarba case on charges of corruption, corrupt practices and cheating public at large in the ploy of Islamic mode of investment.
The Accountability Court Islamabad awarded 10 years jail sentence to Ghulam Rasool Ayubi along with fine of Rs. 3.7 billion in corruption reference of Mudaraba’ case which was filed by NAB Rawalpindi.
The accused Ghulam Rasool Ayubi had found guilty and all charges against all the accused persons named Ghulam Rasool Ayubi, Hussain Ahmad, and M. Khalid him were proved true. The accused were arrested by NAB in two ‘Mudaraba’ scams.
The Islamabad High Court had earlier granted interim bail to Ghulam Rasool Ayubi after he assured the Honorable Islamabad High Court to return all looted money in 12 installments but the accused Ghulam Rasool Ayubi had failed to honor his commitment made in the Islamabad High Court.
Subsequently on the request of NAB Rawalpindi, the Honorable Islamabad High Court cancelled his bail and the accused Ghulam Rasool Ayubi was again arrested by NAB as per law in order to return hard earned looted money of innocent affectees.
In another Mudarba case, NAB Rawalpindi had filed reference in Accountability Court Islamabad against Mufti Ehsan ul Haq, CEO of M/s Fayazi Group of Industries Modarba Case along with 9 other accused persons. The Honorable Accountability Court Islamabad awarded 10 years imprisonment and Rs. 9 billion fine to Mufti Ehsan-Ul-Haq while his 9 other co-accused were imposed Rs.1 billion fine.
That conviction was maximum in history of NAB. The accused Mufti Ehsan ul haq, CEO of M/s Fayazi Group of Industries Modarba Case along with 9 other accused persons were convicted after detailed perusal of solid evidence presented by NAB Rawalpindi as per law in the Honorable Accountably Court Islamabad.
It was informed that during the investigations of Modarba/Musharaka Scams, it transpired that the accused persons induced public at large to invest the amount in their businesses’ illegal Modarba/Musharika business against attractive profits and thus looted the general public.
The investigation teams are trying hard for recovery of looted money and have traced some properties, houses and agricultural lands which have been seized/frozen. It was informed that NAB Rawalpindi has filed 30 references in the respected Accountability Courts and recovered Rs.644.877837 million besides cautioned/freeze assets of worth Rs. 1646.5 million.
The number of affectees are 31524 whereas NAB has arrested 45 accused persons in Modarba scam 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, Matiur Rehman, Muhammad Numan Qureshi, Syed Aksheed Hussain, Muhammad Adil Butt, Muhammad Saqib, Umair Ahmed, Aqeel Abbasi, Mufti Hanif Khan, Nazeer Ahmed Ibrahim Alshoriam and Saifullah etc.
Justice Javed Iqbal has directed all ranks of officers/officials of NAB Rawalpindi that all out efforts should be made to recover the looted money from corrupt elements of Modarba/Musharka scams.
The Chairman NAB also directed to pursue proactively Modarba/Musharka corruption cases as per law transparently and on merit and take necessary measures to arrest corrupt elements, proclaimed offenders and absconders in order to return looted money to all affectees of Modarba/Musharka scams at the earliest. – NNI