AC re­fuses to ex­tend Qasim Zia's re­mand

The Pak Banker - - NATIONAL -

Ac­count­abil­ity Court (AC) on Mon­day re­fused to ex­tend phys­i­cal re­mand of for­mer Punjab pres­i­dent Qasim Zia in al­leged fraud case.

The ac­cused was pre­sented be­fore the Na­tional Ac­count­abil­ity Bureau court dur­ing which the in­ves­ti­ga­tion of­fi­cers re­quested to ex­tend Qasim Zia's phys­i­cal re­mand as they were un­able to sub­mit ev­i­dence against him. Af­ter hear­ing to the se­cu­rity per­son­nel, court re­buffed to ex­tend for­mer Punjab pres­i­dent's phys­i­cal re­mand.

Ear­lier, NAB ar­rested Pak­istan Peo­ple's Party (PPP) for­mer Punjab pres­i­dent Qasim Zia for al­leged fraud worth crores.

The author­i­ties have ac­quired a 14- day phys­i­cal re­mand of Zia. The PPP leader serves as di­rec­tor for Ali Us­man Se­cu­ri­ties.

The com­pany is al­leged of not giv­ing prof­its back to the peo­ple for past two years. The com­pany has also not re­turned the money worth crores of ru­pees. The com­pany, al­legedly, sold bo­gus shares to bag money from the peo­ple. Zia had also served as pres­i­dent of Pak­istan Hockey Fed­er­a­tion (PHF) in the past.

Na­tional Ac­count­abil­ity Bureau author­i­ties said that the trou­bled cus­tomers reg­is­tered com­plaints against the com­pany. Fol­low­ing the pro­ce­dure, the di­rec­tor has been ap­pre­hended for in­ter­ro­ga­tion.

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