An accountability court on Monday extended the physical remand of the accused Faizan Shams in a case of financial embezzlement worth Rs 1,870 million. Earlier, the National Accountability Bureau (NAB) officials produced the accused before the Accountability Court Judge Imtiaz Hussain on the expiry of 7 days remand term and pleaded with the court to extend the physical remand for interrogation purposes.
At this, the court extended the physical remand for another 4 days and directed NAB to produce the accused on the expiry of the remand term.
The Lahore NAB arrested the central accused Faizan Shams, Investment Management Officer, of the Investment Management Unit of Evacuee Trust Property Board (ETPB) on charges of being part of the Rs1,870 million graft case. Accused Faizan Shams was appointed as Investment Management Unit Officer (IMO) in connivance with the main accused Asif Hashmi. The accused monitored the Rs 1,870 million scam deal being an IMO, whereas, he also kept all records of the ETPB and M/s high links deal.