Multibillion-rupee scam: NAB arrests director of a private firm

Published: May 11, 2017


LAHORE: National Accountability Bureau (NAB) Lahore arrested the director of a private firm on Wednesday in the notorious DHA City Housing Society scam. According to NAB spokesman, the bureau arrested Globaco Pvt Ltd Director Muhammad Murad Arshad. He said the arrest of the accused would help resolve Rs15.6 billion scam in which over 10,500 victims were waiting justice thought possession of their plots or a refund.

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Murad was one of the major signatories to the controversial agreement between the DHA administration and Globaco company. NAB Lahore has already arrested Hammad Arshad, CEO of the company. Two accused in the same case, Kamran Kayani and Tariq Siddique, have already been declared proclaimed offenders by the courts.

They are living in self-exile and NAB Lahore had approached the interior ministry for their arrest through Interpol. The accused would be produced before the Accountability Court on Thursday (today) for seeking his physical remand.

Published in The Express Tribune, May 11th, 2017.

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