The National Accountability Bureau (NAB) arrested Former National Bank of Pakistan (NBP) president Ali Raza on Friday on the orders of the Sindh High Court.
Raza was arrested following his bail was rejected in a case filed by the National Accountability Bureau (NAB), alleging his involvement in a Rs 18bn scam.
Around 16 suspects have been named in the corruption case, and two accused are under custody.
The NAB prosecutor argued in court that the 2009 audit report of the bank had revealed irregularities and the State Bank of Pakistan had also expressed their reservations on the financial affairs of the bank.
He informed the court that along with Raza, NBP officials including, Imran Butt, Ibrar Beg, Imran Ghani and Bangladeshi citizens too were involved in the scam.
An anti-corruption court earlier in July indicted the former president of NBP Ali Raza, former member of the Pakistan Banking Council Tajmmul Hussain and others in a corruption reference.
All those who were indicted are former bankers, the 13 accused are alleged to have committed corruption of billions of rupees during the period of 2003 to 2008. The bankers are also reported to have minted money in the name of welfare of bank employees.
The accountability court had also entertained another corruption case registered against Raza and 16 other officials, including seven Bangladeshi nationals. In this case, the accused are reported to have committed a corruption of around Rs18 billion.
A petition was also filed in the Supreme Court last year seeking the formation of a commission to investigate alleged illegal appointments, corruption and other illegalities committed by NBP’s higher-ups over the past 10 years. (PhotoNews / Geo News)
