KARACHI: An anti-corruption court remanded on Monday a former director general of the Employees Old-Age Benefits Institution in the custody of the Federal Investigation Agency and also directed the superintendent of the Adiala jail, Rawalpindi, to produce the former chairman of the EOBI in a graft case.

The chief executive of the AKD Securities, Fareed Alam, and two directors Tariq Ghumra and Mohammad Iqbal were arrested last month for allegedly convincing the EOBI in 2010 through a research report to invest around Rs340 million in textile company Amtex Ltd that caused a loss of around Rs290 million to the national exchequer.

The FIA also named around 20 others suspects, including then EOBI chairman Zafar Gondal, former DGs, other senior officials of the EOBI, CEO of Amtex Ltd, directors of the textile company and other officials of the AKD and Amcap securities in the case.

The FIA produced the newly arrested former DG (finance & accounts) of the EOBI Mirza Imtiaz Ahmed in court and sought his custody for questioning. The judge of the federal anti-corruption court-II, Hafiza Usman, handed him over to the FIA on physical remand till Feb 8.

The court also directed the superintendent of the Adiala jail, where the former EOBI chief is confined in connection with some other cases, through the Sindh home department to produce the suspect in court on Feb 9.

Published in Dawn, February 2nd, 2016