Embezzlement charges: Prime suspect’s father arrested by NAB

The accused will be presented in an accountability court to obtain physical remand.


Our Correspondent August 06, 2014

PESHAWAR: National Accountability Bureau Khyber-Pakhtunkhwa arrested Muhammad Irshad on Wednesday. Irshad is the father of Sheraz Khan, an ex-official of a private bank and the main accused in embezzlement worth Rs100 million. During an enquiry, it was discovered that Irshad, in connivance with Sheraz, Peshawar Development Authority (PDA) Account Officer Nadeem Shad and others, managed to open a bank account and transfer huge sums from the PDA account. This resulted in a loss of over Rs100 million to the national exchequer. In a handout, NAB’s K-P chapter said it was actively pursuing the case and the role of others involved was expected to be unearthed too. The accused will be presented in an accountability court to obtain physical remand today (Thursday).

Published in The Express Tribune, August 7th, 2014.

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