ISLAMABAD: Some senior officials of the National Accountability Bureau (NAB) have received phone calls threatening them to stay away from investigation into the multi-billion Modaraba (Islamic banking) scam.

“We have been warned of dire consequences if we continue to pursue the probe,” a senior NAB official told Dawn. “But we will not be intimidated and will continue to pursue the cases so that the hard-earned money of people could be returned to them.”

It is learnt that calls to NAB officials were made by unidentified people.

NAB Spokesman Ramzan Sajid said, “there is pressure on the bureau, particularly from those who have lost their money to the Modaraba companies to pursue the case”.

Another NAB official said that at first it appeared to be a case involving Rs550 million but later 17 companies were found involved in looting people in the name of Islamic investment and they had received more than Rs31 billion from investors.

Against the claims of Rs31bn, only Rs446m had been recovered, the official said.

Sources said NAB had asked the interior ministry to put the names of the accused on the exit control list but it had not been done yet.

They said the Fayyazi Industries of Mufti Ehsanul Haq, Elixer Group of Asif Javed and Mezban Store of Ghulam Rasool Ayoubi were major companies which had illegally collected billions of rupees. The claims received by the NAB against these companies involve 75 per cent of the Rs31bn.

The Alwassay Group of Mufti Shabbir Usmani, Islamic Traders Private of Maulana Abdullah, Bilal Trading Corporation of Mohammad Bilal, Global Concerns of Mateeur Rehman, Al-Baraka, Al-Jazeera International and Islamic Investment of Mohammad Nazir, Mass Traders and Pearl Shine Private Limited are among the companies involved in the scam as are individuals, including Mohammad Ihsan, Bilal Khan Bangash and Abdullah.

Interestingly, the accused included religious scholars and over 40 prayer leaders. Most of the affected people are said to be students of madressahs and members of their families, widows and retired government employees.

The NAB came to know about the case in January when some people lodged complaints, saying that Mufti Ahsan was running a parallel banking system and had cheated several people. The NAB arrested the accused.

Some 823 complaints pertaining to a fraud of Rs550m were submitted to the bureau. The NAB has so far filed one reference, against Mufti Ahsan. It has taken his property in possession and recovered money from him.