The Accountability Court Friday awarded seven years imprisonment and a fine of Rs 380 million to two convicts of multibillion Modaraba scam. Accountability Court Judge Mohammad Arshad Malik while hearing Modaraba scam reference awarded seven years sentence in prison and fine of Rs 380 million to Qari Obaid Ullah and Mufti Ehsanul Haq under the Section 11 of National Accountability Ordinance (NAO), 1999.
The National Accountability Bureau (NAB) had filed a corruption reference in this regard on February 10, 2014 in the Accountability Court. The Bureau has received 9,584 complaints from the affected people so far. An amount of Rs 487.1 million has been recovered, while 14 properties and 22 luxurious vehicles have also been seized under the Section 12 of NAO 1999.
Qari Obaid Ullah was arrested by NAB Rawalpindi, besides 19 other accused persons in Mufti Ehsanul Haq's Fiazzi Group of Industries Modaraba scam, on the allegations of cheating public at large on the ploy of Islamic mode of investment.
NAB Rawalpindi has arrested 19 accused in Modarba scam including Mufti M Ehsanul Haq, Muhammad Ibrarul Haq, Obaid Ullah, Muhammad Moeen Aslam, Hafiz Muhammad Nawaz, Wajid Ali, Hafiz Mukhtiar Khan, Muhammad Osama Abbasi, Umair Ahmed, Muhammad Bilal Afridi, Ibrahim Al Shoraim, Muhammad Osama Qureshi, Saifullah, Nazir Ahmed, Muhammad Idrees, Abdul Malik, Irshad Ullah Jan and Fazal Subhan.
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