LAHORE: The National Accountability Bureau, Multan, on Thursday arrested a banker for Rs320m corruption in Mepco after dismissal of his bail before arrest from high court.

According to NAB sources, the Lahore High Court, Multan bench, dismissed the bail request of the owner and chairman of the board of directors of Trust Investment Bank Limited, Asif Kamal, who was one of the accused in NAB reference No 03/18 about Rs320m. The accused will be presented in the accountability court to get his physical remand.

Asif Kamal had deposited Rs200m in 2011-12, and he had looted the money with the help of Mepco former CEO Chaudhry Guftar, former director finance Syed Mushtaq Hussain Bukhari and other officers.

The Mepco did neither receive any profit nor the real investment back. The investment has now grown Rs320m as per Karachi Inter Bank Offered Rate.

Guftar and Mushtaq had already been arrested by NAB on Oct 3, 2017, and their bails were dismissed by the apex court.

Published in Dawn, April 6th, 2018