The Islamabad High Court (IHC) here on Wednesday rejected bail pleas of three accused in Rs 200 million Bankers City Housing Society. A division bench of Justice Mohammad Arshad Tabraiz and Justice Syed Intikhab Shah refused to release accused Mehmood Akhtar, Farooq Ansari and Rahat on bail.
Tariq Mehmood Jehangiri, deputy prosecutor general NAB, appeared before the bench and defied appellants' claim that it had no authority to proceed in their case. He said that NAB initiated proceedings on public complaints, which involved about 2,000 affected people and an embezzlement of Rs 200 million. He said the Society was announced in 2004-05 and the accused persons lured the people in the scheme without handing them any plots. However, he admitted that NAB had not framed final reference against the accused as the investigation was still continuing.