PESHAWAR: The National Accountability Bureau, Khyber Pakhtunkhwa, has ordered freezing of properties owned by accused Nadeem Shad, divisional account officer of Peshawar Development Authority (PDA), and Sheraz Khan, regional manager Samba Bank, Peshawar, for their alleged involvement in embezzlement of over Rs100 million. NAB has arrested Nadeem Shad in the case.

According to details provided by NAB here on Thursday, Nadeem Shad had managed to open a fake bank account in connivance with Sheraz Khan and got transferred over Rs100 million to their own account from the PDA official account maintained with Samba Bank Ltd, Peshawar.

It said that the same amount was then withdrawn from the fake account and pocketed, causing a huge loss to the government exchequer. As there was likelihood that the accused would alienate his properties/assets acquired through corruption and corrupt practices, the Khyber Pakhtunkhwa NAB director general ordered freeze on their properties.

Published in Dawn, November 28th, 2014