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April 1, 2019

Mufti involved in Modaraba scam arrested through Interpol

Karachi

April 1, 2019

A suspect wanted by the National Accountability Bureau (NAB) Karachi for his alleged involvement in a Modaraba scam has been arrested in the United Arab Emirates through Interpol.

A spokesman for NAB Karachi said that the suspect, Abdullah Shaukat, was a Mufti and he was wanted in a reference pertaining to corruption in Modaraba. He has been accused of issuing a false Fatwa in favour of the main accused in the scam, Shafiqur Rehman, which declared that his business was legal and under Islamic laws.

Shaukat is also an alleged beneficiary of huge amount of money collected by the main accused through cheating people. According to the spokesperson, Rehman had cheated general public by promising them huge profits on their investments in his business and collected Rs7.2 billion.

The Ponzi scheme, which used the name of religion, was run by a gang of 12 criminals in an organised manner in Karachi. They successfully defrauded around 100 people. The suspect arrested in the UAE would be produced before an accountability court after legal formalities.

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