18 December 2004	Saturday	05 Ziqa'ad 1425

LAHORE, Dec 17: The National Accountability Bureau has examined facts relating to the Punjab University cheques fraud case and may begin have formal investigation to expose the people behind it as police failed to make any headway during the last nine months of investigation.

Eight cheques worth Rs1.8 million were stolen and encashed from the Habib Bank branches on the Old and New campuses of the Punjab University in March. Official sources told Dawn on Friday that a 'powerful' mafia was involved in the fraud and it was not easy for police to expose them.

The NAB had examined the case on reports from certain quarters that the police were hesitant in taking action against the people involved due to their 'connections.'

Besides, other financial irregularities like embezzlement of Rs4.8 million allegedly by a former principal of the College of Information Technology a couple of years ago was also brought into the knowledge of the bureau. The university syndicate had asked the former principal to deposit the money or face the NAB.

The university had only nominated Basit Iftikhar, an employee of its accounts branch, and said there might be several other PU employees and bank officials involved in the crime.

A case was registered with the Muslim Town police on March 22, 2004, under sections 420, 468, 471 and 467 for fraud against the accused. Police reportedly have interrogated over a dozen PU accounts branch and bank officials so far but have yet to establish anything against them.

Surprisingly, all the eight cheques were torn from different cheque books during July-Sept 2003. According to the university rules, a cheque cannot be encashed without the signatures of the treasurer and deputy treasurer. However, some of the stolen cheques had only the signatures of one competent authority.

Sources said police did not even bother to verify the signatures even after the eight months of the registration of the case. The police have recently sent the cheques to handwriting experts for verification and awaiting the report.

Meanwhile, the pre-arrest bail of accused Basit has been cancelled by the court and the police is trying to arrest him. When contacted, PU registrar Col Masoodul Haq (retired) said the university had written a letter to the Punjab IGP, requesting him to expedite the investigation and arrest the people involved in the scam.

He said the university had also served a legal notice on the bank management for the recovery of the amount. Besides, the university employees, Mr Haq suspected, some bank officials might also be involved in the fraud.