Modaraba scam
NOWSHERA: The affectees of Mudaraba scandal on Wednesday asked the federal and provincial governments to arrest the fraudsters and recover their hard-earned money from them. Speaking at a press conference here, the affectees including Ajmal Siddiqui, Sher Alam and others alleged that two religious scholars at a seminary in Akora Khattak had deprived them of millions of rupees in the name of interest-free business. They alleged that Mufti Shakirullah and Mufti Wisal had collected Rs200 million from 419 persons in the name of Mudaraba some four years ago.
The affectees claimed the religious scholars had told them to invest their money in their business and had promised to give them share in the profit on monthly basis.
They said that the aforementioned persons had then started offering various pretexts and later disappeared one after another.The affectees said the fraudsters also defrauded widows, orphans and retried government employees of their hard-earned money. They said the National Accountability Bureau (NAB) had arrested some persons involved in the Mudaraba scandal and had reportedly confiscated their properties and recovered millions of rupees from them. The affectees demanded the government to return their money recovered from the fraudsters and arrest the remaining accused involved in the scandal.
