LAHORE, Feb 21: An accountability court has remanded Ibrarul Haq, involved in Rs208 million Emirates Bank fraud, in NAB custody till March 3.

A press release issued on Saturday said Ibrar was arrested by the Punjab NAB on Feb 20.

An FIR was registered against Naeemuddin Qamar Sahaf, his wife Sumera Naeem and others on the charges of forging a Rs208 million bank guarantee purportedly bearing the signature of ABN Amro Bank officers Saud A. Minam and Aamer H. Zaidi. The motive was to enable the newly incorporated Heimtex Decor (Pvt) Ltd to avail the finance facility of Rs208 million for purchasing Shah Din Ltd, which was under liquidation.

The NAB submitted the interim chargesheet in the special court for offences in banks of Lahore which transferred the case to an accountability court.

Ibrar Khan, a brother of Awais Khan who had presented the cheques and received cash from different banks, in which accused namely Naeem Sahaf and his wife Sumera were maintaining accounts and had deposited the ill-gotten money.

He was also privy to the so-called benami Director, Zeeshan Murtaza, another accused.

The cheques issued by Zeeshan Murtaza were encashed by the accused from the bank account of Heimtex Decor Company (Pvt) Ltd.

The NAB recovered Rs400,000 from him out of his share in the fraud. The accused also maintained an account with the cash deposit of Rs10 million in his name and withdrew Rs7.5 million, out of which Rs4 million were encashed by another accused Shahiduddin Johar Sahaf.

A sum of Rs 6,035,215 is yet to be recovered from the accused.-APP