Khalid Anwar, who was declared as an absconder by a court in the NICL case, fled the country and is believed to have taken refuge in the United States.
Investigating officers claim Anwar's share in the scam was around Rs490 million.
He had returned Rs80 million before fleeing the country.
Sources said the accused, who was a frontman for main accused Ayaz Khan Niazi, has now approached the authorities through middlemen.
He has offered to return the remaining Rs410 million in the form of post-dated cheques.
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