RAWALPINDI: The National Accountability Bureau (NAB) Rawalpindi on Friday arrested Mohammad Saqib of M/s Global Concerns in connection with the Modaraba scam case, which is worth Rs350 million.

During the investigation it became apparent that the accused in connivance with each other induced the public to invest heavily in their Global Concerns’ illegal Modaraba/Musharika business against attractive profits.

The accused Mufti Saqib and Matiur Rehman in collusion with other individuals deceived the public in the name of Modaraba business and acquired millions of rupees from them.

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The NAB has received 201 claims in the Modaraba scam. The investigation team was trying to recover the stolen money, of which Rs7.3 million has already been recovered.

Mufti Saqib was presented before an accountability court in the federal capital earlier today. The court sent the accused on a 14-day physical remand for further investigation.

It may be mentioned that the main accused, Matiur Rehman was already in judicial custody at Adiala Jail in Rawalpindi.

NAB has so far apprehended 18 accused in relation to Modaraba scams.