The Federal Investigation Agency (FIA) on Friday arrested Dr Shahid Masood from the premises of the Islamabad High Court (IHC) after his pre-arrest bail petition was dismissed, reported Express News.
Masood is accused of being involved in the embezzlement of Rs37 million during his tenure as managing director of Pakistan Television (PTV).
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During the hearing, PTV's counsel Muhammad Nazeer Jawad apprised the court that Masood had signed a broadcasting rights agreement in exchange for cricket matches with fake a company.
At the time of the agreement, the counsel added, Masood paid the company a sum of over Rs30 million. The entity was registered in Lahore and provided catering services.
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Jawad further informed the court regarding co-accused Kashif Rabbani's involvement in the case. "No one besides Masood and Rabbani knew about the fake company," the counsel maintained.
Furthermore, co-accused Rabbani reportedly returned a sum of Rs10.2 million against the dismissal of bail. Accused Roshan Mustafa Gilani also reportedly returned Rs8 million after his bail was rejected.
Both the accused remarked that Masood should pay the remaining amount.
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On the other hand, Masood's counsel Advocate Shah Khawar said that his client's name was not included in the first information report.
He added that he had signed the documents prepared by the legal advisor while the inquiry committee declared Masood responsible for an agreement with the fake company when he was not included in the inquiry and had resigned.
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