Muzaffarabad: Bank officials arrested on fraud charges
MUZAFFARABAD: AJK Ehtesab Bureau on Tuesday arrested two former branch managers of a commercial bank for their alleged involvement in the embezzlement of more than Rs10 million of the account holders.
A reference against the accused, Shabbir Noshahi and Imtiaz Ahmed, who headed, respectively, National Bank of Pakistan (NBP) in Qamrohti and Sarhota villages of district Kotli, was filed by the regional head of the NBP.
Both the former bank officials defrauded the account holders of around Rs11.5 million over the past one year and quit the job some two months ago as the bank authorities became suspicious about their activities, Ehtesab Bureau spokesperson Qazi Qadeer told Dawn .
One of them had even fled to the UAE from where he returned only two days ago.
Mr Qadeer said the bureau investigated the reference filed by the NBP authorities following which a hunt was launched against the accused.
A police team apprehended the accused outside the premises of Ehtesab Court in Mirpur where they had arrived to obtain pre-arrest bail, he said, adding, they were later produced before the court, which granted their physical remand to the bureau for five days.