File your claim: NAB arrests Mudaraba scam absconder
NAB has received claims up to Rs47.11 million against the accused so far
NAB has received claims up to Rs47.11 million against the accused so far.
PESHAWAR:
National Accountability Bureau Khyber-Pakhtunkhwa arrested Abdul Basit of Islamic Investment Company Limited over an alleged Mudaraba scandal. Other employees of the company have also been arrested over the scam.
A reference against the accused persons has already been filed in the accountability court.
Published in The Express Tribune, May 6th, 2015.
National Accountability Bureau Khyber-Pakhtunkhwa arrested Abdul Basit of Islamic Investment Company Limited over an alleged Mudaraba scandal. Other employees of the company have also been arrested over the scam.
According to a statement issued by NAB on Tuesday, Basit lured the public to invest money in the fake company, promising they would be paid huge returns. The handout said Basit later not only stopped paying profits but also refused to pay back the principal invested, before he disappeared from the scene.
NAB has received claims up to Rs47.11 million against the accused so far. The handout said Zeeshan Firdous, Qazi Muhammad Abu Bakar and Qazi Muhammad Naeem of Islamic Investment Company had already been arrested and were currently in judicial lock-up.
A reference against the accused persons has already been filed in the accountability court.
Published in The Express Tribune, May 6th, 2015.