One arrested in Rs2.71b Modarba fraud case

Islamabad—National Accountability Bureau (NAB), Khyber Pakhtunkhwa on Thursday arrested Syed Muhammad Dawood Shah (absconder), who allegedly cheated public at large and looted Rs. 2.71 billion from innocent people.
During the course of inquiry it was revealed that Dawood Shah of M/S Life Medicine Company Traders (LMC) cheated public in garb of Mudarba Business (Islamic mode of business) in connivance with owners and other partners of LMC.
They lured general public to invest their hard earned money in Mudarba business. The accused persons circulated pamphlets in general public through agents/sub agents which further targeted that segments of society where hate/dislike exist against interest based/conventional banking system.—NNI

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