LAHORE:
An accountability court on Monday extended till May 30 the judicial remand of Hamesh Khan, Sheikh Afzal and Seth Nisar, who are accused of involvement in the Rs9 billion Bank of Punjab scam.
On Monday, jail officials produced the accused three men before the court amid tight security.
The court extended their 14-day judicial remand and directed jail authorities to produce them again at the end of the month.
According to the National Accountability Bureau, six former bank officials and six others (including former Bank of Punjab president Hamesh Khan and Haris Steel director Sheikh Afzal) connived to open 23 accounts in the bank using forged documents and then obtained Rs9 billion in loans on these accounts on the basis of non-existent collateral like forged mortgage documents.
Seth Nisar is accused of wilfully defaulting on loans of Rs930 million from the bank.
Published in The Express Tribune, May 17th, 2011.
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