Assets of accused to be auctioned to compensate victims


ISLAMABAD  -  National Accountability Bureau (NAB) will auction a 600 square yards house in sector I-8/4, Islamabad and two vehicles of main accused Mufti Ehsan in the Mudarba scandal on December 6 here through an open auction. Mufti Ehsan along with 36 others have a liability of Rs8.5 billion in the Mudarbah scandal. Sources in NAB say that that total looted amount is more than Rs13 billion. Five references were filed against Mufti Ehsan and co-accused in 2014. Mufti Ehsan was given 10-year sentence and fined Rs9 billion by the Accountability Court. The Mudarbah scandal was unearthed in 2013 where Islamic clerics (muftis) used to invest money of citizens to return them “halal profit”. According to NAB there are more than 33,000 people who have lost their hard earned money through the Ponzi Mudarbah scheme. Most of the affected people are said to be seminary students and their family members, widows and retired government employees.

There were 14 properties on the name of Mufti Ehsan’s Fayazi Gujranwala Ltd which were sealed by NAB. Two properties have already been auctioned and remaining are in the process of auction.

Last week, NAB had also filed an application in the Accountability Court to place receivers on 7 properties which were frozen in the Mudarbah scandal. NAB Prosecutor Ammar Kazmi filed the application that Deputy (DC) Commissioner Islamabad should be appointed receiver of 4 properties in Islamabad, DC Rawalpindi for 2 properties in Rawalpindi, and DC Gujranwala for one property in Gujranwala. Receivers are considered as caretakers of the property who collect rent and maintain the property on behalf of government.