Lahore: 4 accomplices of Double Shah get 6 years jail
LAHORE: An accountability court on Friday awarded six years jail term each to four accomplices of Syed Sibtul Hassan Gillani alias Double Shah involved in Rs9,091 million scam. The court convicted Zaheer Abbas, Sheikh Javed Iqbal and Muazzam along with imposition of a fine of Rs20 million each. The convicts were involved in parallel banking system at individual level by unlawful collection of deposits. They not only deprived the public of their money worth Rs9,091 million through cheating but also shattered socio-economic fabric of the area.
After the local police and FIA took no action over the matter, some of the complainants approached NAB for redress of their issue followed by formal complaints lodged by the State Bank of Pakistan. Proceedings were initiated by NAB under Section – 9(a) of NAO 1999.
A special cell was set up to handle the mega scam and dedicated teams were constituted to unearth the crime. Trail of each and every financial transaction executed by the accused was scrutinizsd to dig out final destination of the money.
Extensive campaign was launched for collection of claims from affectees through the media resulting in 46,364 claims worth Rs9,091 million against the accused. All the main accused persons of five groups involved in the scam have been arrested and recoveries are under progress through voluntarily return and plea bargain.
Syed Sibtul Hassan Gillani was convicted by the accountability court and sentenced for 14 years rigorous imprisonment with fine of Rs5.43 billion and confiscation of all his properties.