NewsJan 12 , 2016
Three top AKD group officials sent to jail in EOBI fraud case
KARACHI: A local court of Karachi, on Tuesday, sent two directors and a CEO of Aqeel Karim Dhedhi (AKD) Securities group, involved in causing a loss of Rs290 million to the exchequer under shares of the EOBI (Employees Old-Age Benefit Institution).
Accused Muhammad Farid Alam, CEO of AKD Securities, Tariq Adam Ghumra, Director and Head of Equity Operations AKD Securities, and Muhammad Iqbal, another director in the AKD Group were taken into custody by Federal Investigation Agency during a raid on company offices last week.
During the today’s proceedings, the court directed the investigating officer to complete the probe and submit challan within 14 days.
The court asked the investigating officer why the remaining 19 accused in the case had not yet been arrested.
To which the IO replied that they were said to be residing in Lahore and Faisalabad, and that efforts were being made for their arrests.
Shahab Sarki, the counsel for the accused, said that a bail plea would also be filed before the court today.
It is pertinent to mention here that the National Accountability Bureau (NAB) during the previous government started investigating the matters of the illegal construction of an upmarket housing scheme, namely Naya Nazimabad, on valuable state land, the fraudulent property deal between Pakistan Petroleum Limited (PPL) and the AKD Group, construction of an irregular multi-storeyed building Arkadians Towers and the Ogra corruption case against the AKD Group.
In this regard, NAB has forwarded a letter No 1(315)/K/MW-II/NAB HQ/2015 asking the Bureau’s director general in Karachi to initiate an inquiry into complaints of massive corruption against businessman Aqeel Karim Dhedhi.
Courtesy www.thenews.com.pk
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