The National Accountability Bureau (NAB) on Tuesday arrested Ali Usman Chaudhry, key accused and Chief Executive Officer (CEO) of Ali Usman Securities, for being involved in embezzlement case of worth more than 80 million rupees.
Earlier on Monday, the NAB had arrested former Pakistan Peoples’ Party Punjab Assembly Member and Pakistan Hockey Federation Former President Qasim Zia and Usman Saeed, directors of Ali Usman Securities in the same case.
The accused were running a stock brokerage firm at Lahore Stock Exchange. They sold out shares of general public without authorisation and utilised the money for their personal gains.
By doing so, the accused committed offence of cheating public at large and criminal breach of trust.
Accused Ali Usman will be produced before the Accountability Court for physical remand whereas Qasim Zia and Usman Saeed have already been under physical custody of the NAB.
The NAB has received 82 claims against the aforementioned accused persons which will be dealt according to the law.