NAB approves voluntary return of Rs 8.404b from Sh Afzal
Chairman NAB has approved voluntary return of Rs 8.404b from Sheikh Afzal in Haris Steel Mills case.
The Chairman of National Accountability Bureau (NAB), Admiral (Retd) Fasih Bokhari in a meeting of Executive Board approved the Voluntary Return (VR) of Rs 8.404 billion from Sheikh Afzal in Haris Steel Mills Case of Bank of Punjab. Sheikh Afzal was accused of embezzling Rs 8.404 billion through credit facilities in the name of fake persons against fake collaterals/ fictitious guarantees & mortgage deeds.
The NAB also approved plea bargain application pertaining to recovery of Rs 1.6 billion from Abdul Hafeez Sheikh, CEO BNP Ltd. Abdul Hafeez Sheikh was accused of having obtained loan/financial facilities from Bank of Punjab against fraudulent documents for construction of a five-star hotel.
Some officials of the CDA are also allegedly involved in irregularities in the hotel project, measuring 13.5 acres.
Alleged involvement of CDA officials in the irregularity is under investigation by NAB.
