Modarba scam: ‘Over 29 cases related to scam are being investigated’

NAB meeting reviews status of inquiries, investigations into the Ponzi scheme

NAB meeting reviews status of inquiries, investigations into the Ponzi scheme

ISLAMABAD: National Accountability Bureau Chairman Qamar Zaman Chaudhry on Friday chaired a review meeting at NAB Headquarter to discuss the status of the multi-billion rupee Modaraba scam.

During the briefing, the NAB Rawalpindi DG gave a briefing to the chairman on the Modarba and Musharika cases, recoveries made so far, and the status of related investigations under way at the Rawalpindi Bureau.

The DG informed that there are 29 cases in the Modaraba scam including one inquiry and 28 references filed in the respective Accountability Courts, which include an inquiry against Elixir Group Assistant Director Akbar Khan, while the 28 corruption references have been filed against in the respective Accountability Courts.

DG NAB Rawalpindi further informed that his office has arrested 43 accused persons in the scam.

He added that NAB Rawalpindi has recovered Rs569 million from the accused persons. He said 71 affected persons in the State Vs Mufti Ehsanul Haq and others case and a list of 33 affected persons in the State Vs Mufti Muhammad Saqib case are in the approval stage for payment to the victims.

The NAB chief said that the bureau had chalked out a comprehensive National Anti-Corruption Strategy and adopted Zero Tolerance Policy to check corruption. He said that during the last 16 years, NAB has received about 309,000 complaints from individuals and organisations. In the same period, NAB completed about 6,300 inquiries, out of which 56 per cent of these inquiries matured into formal investigations and more than 80 percent of those went to the prosecution stage in various courts. Out of 1,762 decided cases, convictions were handed down in 889.

He said that NAB’s prime focus is on cases of cheating of the public at large by fraudulent financial companies, bank frauds, wilful bank loan defaults, misuse of authority and embezzlement of state funds by Government servants.

Since NAB’s inception, one of NAB’s major achievements has been the recovery of around Rs276 billion of ill-gotten money, which was deposited in the national exchequer.

The NAB Chairman said the bureau has developed an effective Monitoring and Evaluation System catering the needs of all concerned having salient features of maintenance of data at each stage including complaint entry, complaint verification, inquiry, investigation, prosecution stage and record preservation of Regional Board Meetings and ability to analyze data in qualitative and quantitative form having warnings and alarms system for violators. NAB with improved infrastructure and rationalised workload, timelines have been prescribed for efficient, effective and expeditious disposal of case putting a maximum limit of 10 months- from complaint verification-to-inquiry-to investigation and finally to a reference in Accountability Court.

He said that NAB has established its first Forensic Science LAB (FSL) in the Rawalpindi-Islamabad Regional Bureau. It has facilities of Digital Forensics, Questioned Documents and Fingerprint Analysis. He said that NAB intends to establish NAB’s Anti-Corruption Academy at Islamabad for capacity building of NAB staffers.

He said that NAB is committed to eradicating corruption and its Anti-corruption campaign is carried widely for awareness and prevention of corruption besides Enforcement. NAB hopes that joint efforts of all stakeholders can collaborate to check corruption and corrupt practices before happening with the help of all stakeholders, civil society, media and people at large and bring sustainable systematic changes to the governance structure of our country.

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