Former provincial minister Iqbal Daud Pakwala was arrested in the Employees Old Age Benefit Institute (EOBI) corruption case on Monday.
Pakwala was caretaker minister in the Sindh interim cabinet. The Federal Investigation Authority arrested him after the court refused to extend his bail.
The Supreme Court on Monday ordered the FIA to complete inquiry into the alleged corruption of Rs 40 billion in the EOBI within 10 days and submit its report.
Pakwala had been involved in 18 dubious transactions made to purchase properties on exorbitant prices.
After the scam came to light, the CJP took a suo motu notice on a note sent by the court registrar, citing a TV programme. According to the note, the EOBI had caused a loss of Rs 40 billion to the exchequer by investing in private sector projects without the approval of its Board of Trustees.