NAB arrests 19 in Modarba scandal multibillion rupee scam
LDA sends reply to NAB’s 12 questions with regard to Orange Line Project
PHOTO: REUTERS
ISLAMABAD:
The National Accountability Bureau (NAB) has arrested a total of 19 people in a case related to corruption, corrupt practices and cheating the public in the name of an Islamic mode of investment, called Modarba.
The main accused in the case, Mufti Ehsanul Haq of Fiazzi Group of industries, is already in custody. The NAB Rawalpindi is currently investigating this multibillion rupees scam, in which a reference has already been pending before an accountability court since February 10, 2014.
NAB has so far received 9,584 complaints from the people affected by the scam. It has also recovered Rs487.1 million from the accused so far. NAB has also frozen some 14 properties and 22 vehicles belonging to the accused under u/s 12 of NAO 1999.
SECP takes action against two modarabas
The arrested accused include Mufti Ehsanul Haq, Ibrarul Haq, Obaid Ullah, Moeen Aslam, Hafiz Nawaz, Wajid Ali, Hafiz Mukhtiar Khan, Osama Abbasi, Umair Ahmed, Bilal Afridi, Ibrahim Al Shoraim, Osama Qureshi, Saifullah, Nazir Ahmed, Idrees, Abdul Malik, Irshad Ullah Jan and Fazal Subhan.
NAB Rawalpindi Director General Irfan Naeem Mangi has directed NAB officers to further speed up their efforts for recovery of looted money so as to return the money to those affected by the scam.
Orange Line project
The Lahore Development Authority (LDA) director general has started providing details of the Orange Line Project in reply to the 12 questions sent by NAB to the authority about the project.
The questions sought details about the contracts signed between Pakistan and China and commercial and financial contracts, feasibility report and the officers and employees hired for the project.
According to sources, the LDA DG has dispatched answers to all questions and NAB has started its investigations.
The National Accountability Bureau (NAB) has arrested a total of 19 people in a case related to corruption, corrupt practices and cheating the public in the name of an Islamic mode of investment, called Modarba.
The main accused in the case, Mufti Ehsanul Haq of Fiazzi Group of industries, is already in custody. The NAB Rawalpindi is currently investigating this multibillion rupees scam, in which a reference has already been pending before an accountability court since February 10, 2014.
NAB has so far received 9,584 complaints from the people affected by the scam. It has also recovered Rs487.1 million from the accused so far. NAB has also frozen some 14 properties and 22 vehicles belonging to the accused under u/s 12 of NAO 1999.
SECP takes action against two modarabas
The arrested accused include Mufti Ehsanul Haq, Ibrarul Haq, Obaid Ullah, Moeen Aslam, Hafiz Nawaz, Wajid Ali, Hafiz Mukhtiar Khan, Osama Abbasi, Umair Ahmed, Bilal Afridi, Ibrahim Al Shoraim, Osama Qureshi, Saifullah, Nazir Ahmed, Idrees, Abdul Malik, Irshad Ullah Jan and Fazal Subhan.
NAB Rawalpindi Director General Irfan Naeem Mangi has directed NAB officers to further speed up their efforts for recovery of looted money so as to return the money to those affected by the scam.
Orange Line project
The Lahore Development Authority (LDA) director general has started providing details of the Orange Line Project in reply to the 12 questions sent by NAB to the authority about the project.
The questions sought details about the contracts signed between Pakistan and China and commercial and financial contracts, feasibility report and the officers and employees hired for the project.
According to sources, the LDA DG has dispatched answers to all questions and NAB has started its investigations.