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National Accountability Bureau Rawalpindi has filed 4 references in Modarba scam

Islamabad, December 15, 2015 (PPI-OT): National Accountability Bureau (NAB) Rawalpindi has filed 4 References in Modarba Scam. In the first reference, NAB Rawalpindi has filed corruption reference in Rs 95.52 million Modarba case in Accountability Court Rawalpindi. The reference has been filed against Muhammad Nazeer Chief Executive Officer (CEO) Islamic investment and other accused persons in the Modarba case on charges of corruption, corrupt practices and cheating public at large in the ploy of Islamic mode of investment.

In the 2nd corruption reference, NAB Rawalpindi filed reference in Rs 48.410 million Modarba case in Accountability Court Rawalpindi. The reference has been filed against Muhammad Bilal of Bilal Trading Corporation and other accused persons in the Modarba case on charges of corruption, corrupt practices and cheating public at large in the ploy of Islamic mode of investment.

In the 3rd corruption reference, NAB Rawalpindi has filed reference in Rs. 5.95 million Modarba case in Accountability Court Rawalpindi. The reference has been filed against Muhammad Yasir S/O Muhammad Gulistan, Chief Executive Officer (CEO) Al Jazeera international and other accused persons in the Modarba case on charges of corruption, corrupt practices and cheating public at large in the ploy of Islamic mode of investment.

In the 4th corruption reference, NAB Rawalpindi has filed reference in Rs.25.02 million Modarba case in Accountability Court Rawalpindi. The reference has been filed against Shams ur Rehman Chief Executive Officer (CEO) M/S Al Baraka Marketing (PVT)Ltd and other accused persons in the Modarba case on charges of corruption, corrupt practices and cheating public at large in the ploy of Islamic mode of investment.

During investigation it transpired that the accused persons induced public at large to invest the amount in their businesses’ illegal Modarba/Musharika business against attractive profits and thus looted the general public. The investigation teams are trying hard for recovery of looted money and have traced some properties, houses and agricultural lands which have been seized/ frozen.

DG NAB Rawalpindi Mr. Zahir Shah said that NAB is committed to eradicate corruption in line with the directions of Chairman NAB, Mr. Qamar Zaman Chaudry and therefore, all efforts are being made to arrest corrupts in order to bring them to justice and to recover hard earned looted money of innocent people from corrupts.

For more information, contact:
National Accountability Bureau (NAB)
Attaturk Avenue G-5/2, Islamabad, Pakistan
Tel: +92-51-111-NAB-NAB (111-622-622)
Fax: +92-51-9214503
Email: chairman@nab.gov.pk, infonab@nab.gov.pk
Website: www.nab.gov.pk

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