ISLAMABAD - Accountability Court on Tuesday awarded 10-year jail sentence to Ghulam Rasool Ayubi along with Rs3.7 billion fine in a reference pertaining to ‘mudaraba’ scandal.

Judge Arshad Malik announced the judgment which was earlier reserved in corruption scam regarding cheating the public and looting money. The order read that the accused had been found guilty and all charges against them were proven. Ayubi and other accused had been arrested on charges of corruption and cheating public through two ‘mudaraba’ scams worth Rs8.2 and Rs3.3 billion. The IHC had granted interim bail to Ayubi after he assured the bench to return all looted money in 12 instalments but the bail was cancelled and the accused was arrested again in 2016 after he failed to fulfil the commitment.