NAB arrests accused in mudarraba scam

PESHAWAR: The National Accountability Bureau (NAB) Khyber Pakhtunkhwa on Thursday arrested accused Syed Hussamuddin Shah, a resident of Rawalpindi, for alleged involvement in cheating public at large under the garb of investment in mudarraba.

An official statement said the NAB Khyber Pakhtunkhwa initiated an inquiry against the accused persons upon receipt of several complaints. It transpired during the investigation, the communiqué said, the accused in connivance with each other persuaded and motivated the public to invests in their Mudarraba business. “They promised exorbitant profit to the public on their investments, but in fact there was no such business. Thus the accused person defrauded the general public and deprived them of their hard earnings,” it added. “The case is under trial in accountability court. A 14-day physical custody of the accused has been granted to NAB by Muneera Abbasi, Judge Accountability Court no 2. Affectees are requested to approach National Accountability Bureau Khyber Pakhtunkhwa, PDA complex Block III, Phase V, Hayatabad, to register their claims against the accused persons,” it added.