An accountability court in Islamabad on Tuesday announced its verdict in the National Accountability Bureau (NAB) reference related to Mufti Ehsan-ul-Haq, sentencing seven accused for their involvement in fraud committed under the guise of Modaraba investment schemes, it was reported on Tuesday.
The court imposed a total fine of Rs 1.48 billion on the convicted persons along with prison sentences of varying lengths.
According to the verdict, Zubair Muhammad Khan was sentenced to three years in prison and fined Rs248.2 million. Kashif Shahab received three years’ imprisonment and a Rs448.4 million fine.
Asif Shahab was also handed three years in jail with a Rs474.6 million penalty.
Kamran Akhtar was sentenced to two years’ imprisonment and fined Rs12.4 million.
Muhammad Suleman received two-and-a-half years in jail with a Rs147.4 million fine.
Noman was sentenced to two years’ imprisonment and fined Rs89.7 million, while Abdullah Liaquat received a two-year sentence and a Rs61 million penalty.
According to the court record, all accused were declared absconders in 2013 and were later arrested by the National Accountability Bureau in 2023.
The court ruled that the accused were involved in deceiving investors through fraudulent investment schemes, causing significant financial losses.
