The ‘assurance’ came on Thursday from Mufti Ghulam Rasool Ayubi, the prime suspect in the modaraba scam, as Islamabad High Court (IHC) judges Athar Minullah and Shaukat Aziz Siddiqui hear his bail application. Ayubi is currenty behind bars in Adiala Jail.
Ayubi was arrested by the National Accountability Bureau in February for his alleged involvement in the Rs2.95 billion modaraba scam.
In July, the NAB had approved references against Ayubi for amassing Rs2.95 billion in the name of investment in Mezban Stores.
The main reference is pending in an accountability court and only two witnesses have recorded their statements so far.
On Thursday, when the court resumed hearing of the case, Ayubi submitted an affidavit and assured the court that the looted amount will be returned to the victims in 10 months. The counsel for the petitioner claimed that his client was “sincerely ready” to pay back the amount and requested that the court accept his bail plea so that he could arrange the money.
NAB prosecutor Sardar Zulqarnain opposed the application, arguing that the amount in question was “huge” and that it would be impossible for the suspect to raise such a sum in just 10 months.
Justice Siddiqui observed that NAB should not have any objection if the suspect was ready to pay back the amount.
The court adjourned after summoning a NAB director along with the NAB prosecutor and the investigation officer of the case in the next hearing, which is scheduled for October 13.
Published in The Express Tribune, October 3rd, 2014.
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