The National Accountability Bureau (NAB) Rawalpindi earlier yesterday arrested Mohammad Saqib of M/s Global Concerns in connection with the Modaraba scam case, which is worth Rs350 million.
During the investigation it became apparent that the accused in connivance with each other induced the public to invest heavily in their Global Concerns’ illegal Modaraba/Musharika business against attractive profits.
The accused Mufti Saqib and Matiur Rehman in collusion with other individuals deceived the public in the name of Modaraba business and acquired millions of rupees from them.
The NAB has received 201 claims in the Modaraba scam. The investigation team was trying to recover the stolen money, of which Rs7.3 million has already been recovered.
