Lahore: LHC grants bail in Bank of Punjab embezzlement case
LAHORE: A special bench of the Lahore High Court (LHC) on Wednesday granted bail to three former Bank of Punjab (BoP) general managers, who were allegedly involved in the embezzlement of funds worth Rs 9 billion. National Accountability Bureau (NAB) authorities had alleged that the three managers, in collusion with each other, opened fake accounts and embezzled money. The principal accused, former president BoP Hamesh Khan, has escaped and left the country, while two other former managers Noman Arif and Ziaul Haq were granted bail by the LHC on September 23.In the case, the petitioners’ counsel, Nadeem Sheikh and Ashtar Ausaf Ali claimed that no offence had been committed, as the loans had been re-scheduled by the BoP.
They said that no incriminating evidence had been produced and two of the co-accused had already been granted bail by the same court and the present bail petition should also be accepted. The council also said that the cases were illegal, as they had been filed without reference from the State Bank of Pakistan (SBP). The advocate general, while opposing bail, said that Hamesh Khan had already fled the country and the applicants would also move out of the court’s jurisdiction if they were granted bail. The bench after hearing the arguments, granted bail and ordered the release of the three accused, Haroon Aziz, Shoaib Qureshi and Azizul Hameed, on bail.