Man held for modarba fraud


PESHAWAR: The National Accountability Bureau has arrested a Charsadda resident for modarba fraud.
A statement issued here on Monday said the NAB Khyber Pakhtunkhwa had initiated inquiry after several people formally complained that suspect Zaidullah had deprived them of millions of rupees in the garb of modarba investment.
It added that the investigation revealed that the suspect along with his accomplices persuaded and motivated people to invest in their fake modarba business showing them multiple wheat, vehicles and timber businesses.
The statement said the suspects had promised the people high profit on their investments but in fact they’d no such business and so, they defrauded the people and deprived them of money. It added that another suspect in the case, Sher Jan, was already in the NAB’s custody.

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