Home > Modarba scandal: IHC orders registration of case against surety givers

Modarba scandal: IHC orders registration of case against surety givers

Islamabad High Court. PHOTO: FILE

Islamabad High Court. PHOTO: FILE

ISLAMABAD: The Islamabad High Court (IHC) ordered on Monday the deputy registrar of the court to register a case against surety givers in a case pertaining to the multi-billion Modarba scam against Mufti Ghulam Rasool Ayubi. 

A division bench comprising Justice Shaukat Aziz Siddiqui and Justice Athar Minallah ordered the deputy registrar to lodge the case against Naseer Ahmed and Muhammad Arshad, after one of them revealed that he took Rs30,000 for submitting surety in Ayubi’s case.

In a shocking revelation, one of the surety givers told the court that he had taken money for submitting surety and did not know Ayubi personally. “I’m a labourer and have done this for the first time in my life,” he said while bursting into tears.

“You made Rs30,000 in a day, and are now pretending as [if you are] innocent,” remarked Justice Siddiqui. “Stop this drama in [the] courtroom,” he added.

Subsequently, the court ordered registration of a case against both surety givers as they failed to produce the suspect before the court.

At the last hearing, the court had issued bailable arrest warrants and show-cause notices to the surety givers.

The bench had expressed its displeasure as the authorities as well as surety givers failed to produce the suspect despite cancellation of his bail at an earlier hearing.

“No one will be spared if the suspect is not produced before the court on next date of the hearing,” Justice Siddiqui had remarked.

While expressing his annoyance at the investigation officer and the prosecutor of the National Accountability Bureau (NAB) as well as the co-accused and their counsel, who were all present in the courtroom, he had said that no one would be allowed to deceive the court.

Ayubi, one of the prime suspects in the multi-billion rupee financial scam, had promised the court that he would refund his alleged victims within a stipulated time, if he was granted bail.

Ayubi, Hussain Ahmed and Muhammad Khalid were booked for allegedly committing corruption and corrupt practices, and cheating the public at large in the ploy of Islamic mode of investment.

They were arrested for their alleged involvement in the Rs3.2 billion Modaraba scam.

The suspects ran a grocery store chain called “Mezban” in various cities and deprived people of billions.

Ayubi was granted bail on January 13, 2015, after he submitted a schedule of payment and undertaking, which was duly approved by the NAB authorities.

All the suspects were granted bail against the surety of Rs1 million each.

On May 28, Ayubi was granted extension in bail till July 13, but he did not deposit any amount. Suspects’ names were also included in the exit control list.

Meanwhile, the NAB prosecutor had maintained before the court that efforts were being made to arrest the suspect. The court had directed the NAB authorities to produce the suspect before the court in two week.

Published in The Express Tribune, October 20th, 2015.

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