The Lahore High Court (LHC) here on Friday dismissed bail of National Insurance Corporation Limited (NICL) land scam main accused former Chairman of company Ayaz Khan Niazi. The accused through his counsel pleaded that he had no role in the alleged NICL scam but Federal Investigation Agency (FIA) dragged him into the case with malafide intention.
FIA official however, informed the court that the accused was involved in fraud of 803 kanal land belonged to the NICL and this allegation had been proved during investigation. The FIA also accused Niazi of paying huge claim amounts to contractors in connivance with his colleagues violating rules. It alleges that Niazi and others paid huge money to contractors after getting claims through fake surveyors.
Meanwhile, the court allowed bail to another accused of the scam Ayub Siddique Butt and directed him to submit bail bonds of Rs 1 million. Another accused of the scam, PML-Q leader Chaudhry Moonis Elahi also submitted his bail bonds of Rs 100 million before LHC registrar judicial who had secured his bail on Thursday.
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