ISLAMABAD: An Accountability Court awarded prison terms and imposed heavy fines on seven accused involved in the Mufti Ehsan-ul-Haq Modaraba reference.
The court imposed cumulative fines of more than Rs1.48 billion on the convicted individuals, while the accused were also handed prison sentences ranging from two to three years. According to the judgment, Zubair Muhammad Khan was sentenced to three years’ imprisonment and fined Rs248.2 million.
Kashif Shahab was awarded three years’ imprisonment along with a fine of Rs448.4 million, while Asif Shahab was also sentenced to three years in prison and fined Rs474.6 million. Kamran Akhtar was sentenced to two years’ imprisonment and fined Rs12.4 million. Muhammad Suleman was awarded two and a half years’ imprisonment along with a fine of Rs147.4 million. Noman was sentenced to two years’ imprisonment and fined Rs89.7 million, while Abdullah Liaquat was awarded two years in prison and fined Rs61 million.
According to tce court, the accused were involved in defrauding citizens by collecting investments in the name of Modaraba, causing substantial financial losses to members of the public. The judgment noted that the accused had been declared absconders in 2013. However, after a prolonged process, the National Accountability Bureau arrested them in 2023, following which trial proceedings were completed.
