NBP scam: Accused remanded for 14 more days

Remand of people accused of embezzling millions of rupees from National Bank of Pakistan has been extended.

LAHORE: An accountability court on Saturday extended the judicial remand by 14 days of Advocate Imtinan Saeed, Omeed Ayyaz Mehmood, Zahid Imtiaz and Faisal Rasheed, who are accused of embezzling Rs140 million from the National Bank of Pakistan (NBP).

The court directed National Accountability Bureau (NAB) officials to complete the reference against the accused by May 6, when they will be produced in court again.

According to NAB, the accused drew up documents for five fictitious firms  Paragon Leather, Imperial Chemicals, Ikhlaq Traders, Y to K Traders and Copier Traders – and then obtained Rs140 million in loans for them from the NBP branch on Lytton Road.



Published in The Express Tribune, April 24^th, 2011.