LAHORE – An accountability court on Monday extended the judicial remand of Askari Bank Vice President and former Bank Alfalah manager Khawar Rasheed until April 19 for allegedly embezzling Rs 200 million.
The accused, while working as manager operations in 2006 at Bank Alfalah, Tufial Road, Lahore Cantt in connivance with Sajjad Khan, Misbah Shaukat and others made illegal withdrawals from various local and foreign currency bank accounts. Rasheed and Shaukat, being employees of the bank, were found involved in facilitating withdrawals without a proper verification and other codal formalities. Rasheed confessed his offence before the fraud investigation unit of the bank. The court, while extending the judicial remand, directed the National Accountability Bureau (NAB) to file a reference against the accused by the next date of hearing.
Separately, an accountability court extended the judicial remand of Amjad Minhas and Muhammad Ibrahim, allegedly involved in the Habib Bank Wassanpura Branch fraud case, until April 18. Amjad was a senior officer at the Habib Bank Wassanpura Branch. He in connivance with Ibrahim embezzled Rs 2.7 million through fake documents from the bank account of a family settled in the US.
Also on Monday, an accountability court extended the judicial remand of Sheikh Afzal, main accused in the NIB Bank fraud case, until April 16. The accused is owner of the Haris Steel Mills and involved in the NIB Bank fraud case amounting to Rs 33.3 million.
He defaulted on a loan taken
from the NIB Bank for Haris Steel Mills. The court, while extending the remand, directed NAB to file the reference against the accused by the next date of hearing.
Remand of bank fraud accused extended
