ISLAMABAD - The National Accountability Bureau has summoned Khalid Siddiq Tirmzi, Deputy Chief Executive Officer of the Bank of Punjab, on August 7 for recording his statement in a corruption inquiry against President of the Bank Naeemuddin and others.

In March, the Bureau had started inquiry against officials of the Bank of Punjab (BoP) for misusing their authority and causing a loss to the national exchequer.

On July 30, the NAB Rawalpindi summoned Khalid and it said: “Whereas the competent authority has taken the cognizance of an offence allegedly committed by the subject accused under the provisions of NA, 1999. The subject inquiry has revealed that you are in possession of information/evidence regarding trading in shares of the Bank of Punjab and misuse of authority etc, which relates to the commission of the said offence. In view, thereof, you are hereby called upon to appear on 07-08-2018 at the NAB Rawalpindi/Islamabad before NAB investigation team for recording your statement.”

On the other hand, NAB Rawalpindi arrested accused persons namely Rana Ghulam Farid, President Ministry of Commerce Employees Cooperative Housing Society (MOCECHS), Syed Amir Hussain Shah, ex-Vice President/ General Secretary MOCECHS, Mazhar Hussain, General Secretary, MOCECHS, Muhammad Akram Awan, former Executive Member/Member Development Committee MOCECHS, Muhammad Arshad, CEO M/s Sun Shine Real Estate Marketing (Pvt) Limited and Khushnawaz, property dealer.

The accused persons have been allegedly involved in corruption and corrupt practices in allotment of plots, embezzlement of society funds and illegal award of contracts for development works thus causing a loss of billions of rupees to the members/public at large.

As per details, multiple complaints have been received to NAB regarding allegations of misuse of authority in the award of development contracts, allotment of plots and embezzlement of the society funds against the management of the society.

During the investigation, it was revealed that accused Rana Ghulam Fareed, former president MOCECHS in connivance with others illegally accommodated and awarded contract of consultancy services to M/s Naveed Aslam and associates without competitive bidding in gross violation of by-laws of the Ministry of Commerce Employees Cooperative Housing Society.

The society has received millions of rupees from members whereas the same has been embezzled by the accused persons instead of spending on purchase of land and development works of the society. Moreover, the accused persons also illegally allotted plots without balloting.

The investigation also revealed that Rana Ghulam Fareed in connivance with other accused persons transferred dozens of files amounting to millions of rupees on bogus cheques as well as made double allotments. Furthermore, Rana Ghulam Fareed also allegedly involved in the transfer of 94 memberships on the basis of fake and bogus documents and without the knowledge of owners. It is also established from the available evidence that the accused persons in connivance with each other have committed an offence of cheated public at large and criminal breach of trust under the provision of NAO, 1999.

Yesterday, the accused were produced before the Accountability Court, Rawalpindi on 02.08.2018 and seven days remand granted by Accountability Court, Rawalpindi into NAB custody.