Karachi (September 22, 2017): Former president of state-owned National Bank of Pakistan Syed Ali Raza and six other suspects were arrested from the Sindh High Court after the cancellation of their interim bail by the court Raza in a case pertaining to Rs 18 billion fraud in Bangladesh branch of the Bank.
Karachi (September 22, 2017): Former president of state-owned National Bank of Pakistan Syed Ali Raza and six other suspects were arrested from the Sindh High Court after the cancellation of their interim bail by the court Raza in a case pertaining to Rs 18 billion corruption in Bangladesh branch of the Bank.
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According to Prosecutor of National Accountability Bureau Governor of central bank State Bank Pakistan had also complained about the massive embezzlement and corruption in the Bangladesh branch of the state-owned Bank.
Besides Ali Raza nationals of Bangladesh and other suspects are also nominated in the case.
NAB officials had to wait for the accused to come out of the court room where they hid for as long as they could after the cancellation of the interim bail.
It may be mentioned here that on August 19 an Anti-Corruption Court had issued non-bailable arrest warrant of the absconding accused in $185 million corruption reference against former President National Bank Ali Raza and others.
The court had heard the corruption case registered against Raza and 16 other officials, including seven Bangladeshi nationals.
As per NAB reference, the accused had committed a corruption of over Rs18 billion.
It may also be mentioned here that National Accountability Bureau (NAB) had filed a reference against former NBP chief Syed Ali Raza and the other suspects for misusing their authority to grant and revise financing facilities at the NBP Bangladesh branch that caused a loss of $185 million to the national exchequer.
The former NBP president had obtained interim bail in April from the SHC to avoid arrest.
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