National Accountability Bureau (NAB) Lahore has arrested Private Bank's Ex-Manager Mushtaq Ahmed following Rs 11.77 Million embezzlement allegations leveled against him who was absconder since 2007. According to the details, NAB Lahore received embezzlement complaint against said accused and an inquiry was authorized regarding corruption and corrupt practices of the accused Manager which revealed operating of 5 fictitious accounts in the name of bogus account holders and transfer of hefty amounts into these accounts by allegedly using demand finance and loan facilities.
Later, the accused by sniffing non-favorable circumstances managed to become absconder, whereas, NAB Lahore filed a Reference in an Accountability Court in 2008. Subsequently, the accused was declared proclaimed offender by the Courts. NAB Lahore on an anonymous tip arrested Mushtaq Ahmed from Lahore and after producing him before Accountability Court has acquired 10 days Physical Remand for further investigations.
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