One of the repayment cheques worth Rs42 million, submitted to the National Insurance Company Ltd (NICL) by the accused, bounced on Monday, Express News reported.
The scam accused Habibullah Warraich, Akram Warraich and Mohsin Habib Warraich collectively owe Rs420 million to the NICL. Rather than paying in cash, they provided 10 cheques to the NICL worth Rs42 million each.
One of the cheques, which was supposed to be cashed on April 4, bounced.
Though the case is still being heard in the court, names of the accused have been removed from the Exit Control List (ECL).
Ex-chief of NICL says he is innocent
Former chairman of the NICL Ayaz Khan Niazi maintains he has done nothing wrong nor will he flee the country.
“I have full confidence in the judiciary and I will be acquitted in all cases instituted against me,” he said confidently.