ISLAMABAD: The National Accountability Bureau approved on Wednesday another reference against Mufti Ehsanul Haq, the main character in the multi-billion-rupee Modaraba scam, for allegedly cheating and looting people.

Ehsanul Haq has been accused of depriving innocent investors of their hard-earned money amounting to Rs8.2 billion in the name of the so-called Islamic investment (Modaraba) and is already facing 11 references in the Islamabad Accountability Court.

“The NAB executive board decided to file a corruption reference against Mufti Mohammad Ehsanul Haq and others for allegedly cheating public at large,” the bureau’s spokesman said.

Former prime minister Raja Pervez Ashraf of the PPP stands second in the list of accused as NAB has filed 10 references against him, mostly relating to alleged corruption in the award of rental power project contracts.

A meeting of the bureau’s executive board presided over by NAB Chairman Qamar Zaman Chaudhry was informed that Ehsanul Haq and his partner Ghulam Rasool Ayubi had been arrested from the Islamabad High Court premises following the rejection of their bail applications in January this year.

In August last year, Ehsan had assured the high court that he would return the entire outstanding amount in 18 months, but later backed out.

The NAB board also approved a reference against Sheikh Abdul Rasheed, former chief metropolitan planner/director general of the Lahore Development Authority, and others for allegedly causing dual loss to the LDA — sale of land acquired by the authority and illegal exemption of 28 plots, thereby getting illegal gains for themselves as well as for their associates/co-accused.

The bureau authorised four investigations — the first against Manzoor Qadir, Director General of the Sindh Building Control Authority, Karachi, and others. They have been accused of misusing authority and illegally allotting an amenity area at Nehr-i-Khayyam, causing billions of rupees of losses to the national exchequer.

The second investigation was authorised against directors/owners of Tarmac Pak Company, officers/officials of the C&W department, government of Punjab, and others for allegedly misusing authority and misappropriating government funds, causing a loss of Rs12 million to the national kitty.

The third investigation was authorised against inside trading in the purchase of M/s Azgard Nine Ltd’s shares by the National Bank of Pakistan at higher rate.

The fourth investigation was authorised against Dr Zafar Iqbal, former vice chancellor of Federal Urdu University, Karachi, officers/officials of the university and others for allegedly misappropriating Rs82m by giving illegal work order to private firm Sardar Security Services on account of provision of security services to the Federal Urdu University in Karachi and Islamabad.

The NAB board re-authorised three inquiries – the first against the Sindh Government Lands Committee, officers/officials of the Land Utilisation Department and others for illegally regularising four acres of land in Sector 31-A, Scheme-33, Karachi.

The second inquiry was re-authorised against officers/officials of the State Bank of Pakistan, Bank Islami, KASB Bank and others for alleged non-transparent amalgamation of KASB Bank into Bank Islami. The third inquiry was re-authorised against illegal allotment of state land in favour of Dilshad Akhtar, daughter of Khurshid Alam, in Quetta.

NAB authorised two fresh inquiries – the first against MNA Khayal Zaman Mazar Khan for illegal transaction of money and corruption and corrupt practices.

The second inquiry was authorised against directors of private firm AHHL and its subsidiary companies, directors of United Insurance Company of Pakistan and officials of the government of Balochistan for allegedly embezzling government funds and misusing authority, causing a loss of Rs200m to the national exchequer.

Published in Dawn, May 26th, 2016