PESHAWAR, Sep 15: The National Accountability Bureau on Thursday arrested the chief executive of a foreign exchange company accused of deceiving about 400 persons and misappropriating Rs180 million of depositors. The accused, Shoaibullah Cheema, was produced before the court presided over by Mr Khalid Bacha. The court remanded the accused into the custody of the NAB for 15 days.

Official sources said that the NAB had been looking for the accused since many months after receiving complaints from a large number of people.

The accused, hailing from Lahore, had allegedly established a company in 2002. About 400 persons including widows and retired government servants deposited their money in the company. Later on, the accused disappeared plundering the money of the depositors.

The accused has a civil case pending in the Peshawar High Court. When the NAB officials came to know about his presence there, they reached there and arrested him.