ISLAMABAD - The National Accountability Bureau (NAB) has filed another reference amounting to Rs 15.95 million in modaraba scam before an accountability court.

The regional bureau has received more than 27 claims in this case so far. The reference has been filed against Bilal Khan Bangash, Chief Executive Officer (CEO) Maseha Forex and another accused on charges of corruption, corrupt practices and cheating public at large in the ploy of Islamic mode of investment.

The regional NAB Rawalpindi bureau is currently investigating 96 cases of multibillion rupees modaraba scam, in which eight cases are in reference stage, 14 are at investigation stage, five are at inquiry stage, two are at complaint verification stage and 67 are on complaint stage and has so far received 33,744 complaints from scam affectees. The bureau has recovered Rs 1.734 billion in this mega scam.

During investigation it transpired that the accused persons induced public at large to invest the amount in their illegal Modaraba 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 frozen.

So far 29 accused persons have been arrested in Modaraba scam including Mufti Ehsan-ul-Haq, Mufti Ibrar-ul-Haq, Hafiz Muhammad Nawaz, Moeen Aslam, Obaidullah, Mufti Shabbir Ahmad Usmani, Sajjad Ahmed, Asif Javed, Ghulam Rasool Ayubi, Muhammad Hussain Ahmed, Hamid Nawaz, Muhammad Irfan, Bilal Khan Bangash, Matiur Rehman, Muhammad Numan Qureshi, Syed Aksheed Hussain, Muhammad Adil Butt, Muhammad Saqib, Umair Ahmed, Aqeel Abbasi, Mufti Hanif Khan, Nazeer Ahmed Ibrahim Alshoriam and saifullah.

The chairman NAB said NAB is committed to curb corruption and corrupt practices through holistic approach of awareness and prevention and enforcement without any fear and favor on merit. He directed to arrest all corrupts and proclaimed offenders so that recovery of hard-earned money of people should be made possible.