PESHAWAR: An accountability court on Friday handed over another suspect, Muhammad Ayaz, to the National Accountability Bureau (NAB) on a seven-day physical remand in the Kohistan mega corruption scandal involving alleged embezzlement of billions of rupees.
The accused was produced before Accountability Judge Muhammad Zafar, where NAB sought a 14-day physical remand for further investigation. However, the court approved seven days and handed him over to the bureau.
According to the NAB prosecutor, investigators recovered Rs111.1 million from the bank account of Muhammad Ayaz, allegedly transferred from the funds misappropriated in the scandal.
The prosecutor informed the court that the accused’s brother, Muhammad Riaz, a cashier at the National Bank, was already in jail in connection with the alleged embezzlement of around Rs10 billion in the Kohistan scandal.
NAB alleged that Muhammad Riaz had transferred part of the misappropriated funds into his brother’s bank account.
The bureau further alleged that Muhammad Ayaz had established a fictitious construction firm in the name of development projects to facilitate the alleged financial irregularities.
According to the prosecution, no development work existed at the locations mentioned in the relevant projects, while the accused allegedly misappropriated Rs111.1 million.
NAB sought further custody to investigate the alleged financial transactions and establish the role of the accused in the scandal.