Remand of ex-chairman extended

NAB extends physical remand of Trust Investment Bank limited former chairman

LAHORE: An accountability court extended the physical remand of Trust Investment Bank limited (TIBL) former chairman for another 11 days on Thursday. The accused, Asif Kamal, was allegedly involved in the Punjab Provincial Cooperative Bank Limited (PPCBL) scam. Earlier, National Accountability Bureau (NAB) officials presented Kamal in front of Judge Syed Najamul Hassan. The court was informed that investigations were currently underway for which an extension was needed. Being made aware of the situation, the court extended the physical remand for another 11 days until June 4 and directed officials to produce the accused in front of the court at the expiration of the time period. The NAB has already arrested many PPCBL officials for misusing their authority and illegally transferring millions of rupees to other banks, including TIBL, as investments. Kamal was involved in embezzling Rs88 million from PPCBL.

Published in The Express Tribune, May 25^th, 2018.