Fake accounts case: Finance managers of 3 sugar mills remanded to NAB custody

The National Accountability Bureau (NAB) on Tuesday obtained 10-day physical remand of finance managers of three different sugar mills till June 28 from an accountability court on Tuesday. In the fake bank account case, NAB officials produced three accused - including Kazim Ali, finance manager Tando Allayar Sugar Mill, Aman Ullah, finance manager Khoski Sugar Mill, and Faisal Nadeem, finance manager of Chambar Sugar Mill - before the Accountability Court Judge Muhammad Bashir to obtain their physical remand.
The Bureau arrested the three accused in Karachi after recording the statement of Co-chairman Pakistan People's Party (PPP) Asif Ali Zardari who has been in the custody of anti-graft body since June 10.
NAB Prosecutor Sohail Ahmed while arguing before the court said that the accused persons have incurred losses of Rs 846 million to the national exchequer. "The three accused have opened fake bank accounts and allegedly misappropriated Rs 846 million," he said. He said that accused Ali had embezzled Rs 81 million through fake bank accounts while Amman Ullah misappropriated Rs 66 million. Nadeem opened fake bank accounts and embezzled Rs 27.6 million, he said. The prosecutor told the court that accused Aman Ullah had obtained a subsidy from Sindh government through a fake firm and illegal documents. The accused is also a defaulter of Rs 18 million loan taken under the pretext of helping out the poor farmers.
The prosecutor told the court that three accused have opened fake bank accounts on the names of nine employees. The defence counsel objected to the NAB's request and urged to the court to reject the Bureau's application. The court after hearing the arguments of both sides granted NAB physical remand of the three accused till June 28.