NBP Banker Arrested Over Alleged Fraud of Rs. 3 Billion

The National Accountability Bureau (NAB) has arrested a National Bank of Pakistan (NBP) official over the charges of embezzlement.

The Head of Foreign Exchange Department NBP was arrested by the accountability watchdog yesterday over the alleged corruption of Rs 3 billion.

The arrested employee, Usman Saeed, worked at NBP’s Main Branch Lahore before getting arrested by bureau.

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NBP Scandal

The national bank previously found itself engulfed in a controversy as well. Last year, NAB arrested former NBP president and other officials over corruption charges worth $185 million or Rs 19 billion. The accused included 7 Bangladesh nationals involved in a scam at the NBP branch in Dhaka Bangladesh. NAB arrested four NBP officials including the former president after the Sindh High Court canceled their bails in the case. The arrested individuals included;

• Muhammad Wasim Khan,
• Imran Ghani,
• Dr Mirza Abrar Baig and,
• Muhammad Imran Butt.

NAB filed the reference against the said individuals in an accountability court. The bureau alleged that the former president misused his authority at NBP’s Dhaka branch which resulted in a loss of Rs 18 billion to the national exchequer.