LAHORE: The National Accountability Bureau has arrested a former banker for allegedly embezzling millions of rupees.

According to NAB, ex-manager Zarai Taraqiati Bank Limited Zulqarnain Chaudhry during his tenure [allegedly] misappropriated funds worth millions of rupees in connivance with other co-accused through loan schemes offered by the bank.

It said the suspect also made [loan] payments in the name of borrowers who died before receiving any amount. Payments were also made to individuals in some cases against the recommendations of mobile credit officers (MCOs).

NAB said payments were also made without the provision of loan case files duly filled by individuals in the absence of required documents. In addition to this, it said the suspect exceeded his financial and administrative powers as described in relevant laws, embezzled the government funds and made payments on the basis of fake CNICs, duplicate pass books, loan paid to mentally retarded individuals and others without the provision of agricultural pass book.

The bureau on Wednesday got his physical remand till Dec 11 from an accountability court.

Published in Dawn, November 30th, 2017