PESHAWAR - The Accountability Court on Friday convicted Sher Jan and Zahid Ullah and awarded three-year rigorous imprisonment each and fine of Rs1.9 million and Rs7.3million respectively in Modaraba scam. As per details, Sher Jan, son of Rabnawaz, and Zahidullah, son of Abdullah Jan in connivance with each other lured general public to invest their hard earned money in their Modaraba business by showing multiple fake businesses of wheat, timber and vehicles and offered them huge profit. A total of 46 individuals invested in the fraudulent business.
Later, the culprits not only stopped paying profits to the affectees but also embezzled the principal amount.
NAB Khyber Pakhtunkhwa filed a reference in the Accountability Court and successfully proved it. The bureau has time and again advised general public to be wary of such fraudulent businesses.
3 PHC JUDGES SWORN IN
Three additional judges of Peshawar High Court took oath of their offices in Peshawar on Friday.
According to details, Chief Justice Peshawar High Court Justice Waqar Ahmad Seth administered the oath.
The new judges are Justice Nasir Mehfooz, Justice Shakeel Ahmad and Justice Arshad Ali.
