Embezzlement: Court extends remand of accused in BOP case

LAHORE:

An accountability court on Friday extended till October 3 judicial remand of Hamesh Khan, the former Bank of Punjab (BOP) president, Seth Nisar, the former honorary consul for Kazakhstan, Sheikh Muhammad Afzal and Sheikh Munir.

The four men have been accused of Rs12 billion fraud on BOP. Khan is accused of releasing a Rs6.2 billion loan to Afzal, the owner of Haris Steel Mills and Haider Steel Mills. Nisar has also been named as a beneficiary in the case with Rs930 million liabilities, which he got illegally as loans with the backing of some senior bank officials. The court directed the National Accountability Bureau to file the reference against the accused by the next hearing.



Published in The Express Tribune, September 15^th, 2011.