Two jailed, fined in Modaraba scam

PESHAWAR: An accountability court on Friday awarded three years rigorous imprisonment to Sher Jan, son of Rabnawaz Khan, and Zahidullah, son of Abdullah Jan, and fine of Rs1.9 million and 7.3 million each, respectively, in a Modaraba scam.The accountability court convicted Sher Jan and Zahidullah for luring the general public into investing their hard-earned money in their Modaraba business by offering them huge profit. The NAB prosecutor submitted in the court that 46 persons had invested in the fraudulent business. After a few months, he said, the culprits stopped paying profits.

from The News International - Top Story http://bit.ly/2Wdqbt7