ISLAMABAD - National Accountability Bureau (NAB) succeeded to arrest main accused of Modaraba and Musharaka multibillion rupees scam, Mufti Ehsan Ul Haq, from a mosque of the federal capital on Friday during a clerics’ gathering, sources told The Nation.
Mufti Ehsan would be produced before an accountability court today (Saturday) to obtain his physical remand for further interrogation and investigation, the sources added.
When contacted Director General NAB Rawalpindi confirmed the arrest of Mufti Ehsan and said that he committed default in his voluntary return (VR) and NAB would initiate a case of default against him under section 5(r) of the National Accountability Ordinance (NAO) 1999.
Presently, NAB received about 447 claims against Mufti amounting to Rs 470 million. Mufti was released by the NAB after VR in July this year and the abovementioned amount of claims were received by the bureau after VR deal done, the sources added.
According to details, the NAB received a complaint against Mufti in April this year and arrested him. The NAB received a total sum of 838 claims amounting to Rs 550 million against him after publication of three advertisements in national newspapers, the sources said.
It is a unique Modaraba scam, involving a group of religious scholars, who had deprived thousands of citizens, majority of them was pensioners, of their money. Most of the victims belong to KPK, South Punjab, Kashmir and Islamabad. Most of the claimants were religious people, the sources added. The NAB advertised 31, June 2013 as deadline for the submission of claims against the Mufti.
During the NAB custody Mufti stated that he has given about Rs 10 billion to a man named Nisar Afghani who is by birth an Afghan national but he carries Pakistani passport and also holds the nationality of Thailand. Mufti further disclosed that Nisar Afghani is a businessman and deals in diamonds in Singapore and Thailand, the sources added.
Through one fraudulent company Al-Fiazi Industries of Gujranwala, Mufti cheated public at large and collected billions from the followers as he confirmed the available record produced by NAB authorities. Who had made huge investments, in millions, were reluctant to file the claims before the NAB while fearing they might also be probed about the resources and income tax about the investment.
They had invested in the alleged fraudulent Modaraba scheme for a monthly profit of six to eight percent profit per month the sources added. The innocent people trusted these Muftis and their claims and thus handed over their savings to them to earn nice interest-free profits.
It is said that women displaced from Mohmand Agency and FATA sold their jewellery to make their exile comfortable during the insurgency in tribal belt and men disposed of their properties and not-so-good businesses to invest in the Modaraba Company, the sources added.
The NAB found out that the group had deceived the public and concealed the fact of non-registration of a Modaraba company with SECP, received the heavy volume of amounts and issued receipts of these amounts. They issued receipts in the name of M/s Fayazi Gujranwala Industries Pvt Ltd which is registered as a private limited company having no mandate to act as a Modaraba company.
Despite the promise with NAB authorities to deposit the money regarding the claims received by the NAB Mufti termed defaulter by the NAB and the bureau has recovered 4 vehicles amounting to Rs 90 million from a man named Mian Moeen Aslam who took money and vehicles from Mufti in the name of some NAB officials, the sources said.