LAHORE - The Federal Investigation Agency (FIA) on Wednesday arrested a WAPDA officer along with his five accomplices allegedly involved in embezzlement of Rs 190 million and recovered about Rs 30 million from his possession. Addressing a Press conference at his office, FIA investigator Azam Joiya said WAPDA Budget and Accounts Officer Riaz Naqi had committed fraud in selling scope bonds of WAPDA. He had replaced the original scope bonds with fake ones and sold originals bonds to a so-called company Swift Engineering Solutions. He had sold the same to a Karachi based company Almeezan Investment Company. Against the bonds he asked the companies to transfer his amount in UBL Bank Main Maket Lahore, where he had opened a fake account in the name of Muhammad Sajid which was being operated by his first cousin Ehsan Raza. The accused has utilized Rs 1.5 million out of the said amount by establishing a flour mills (Hasnian Flour Mills) on Ferozepur road and also purchased a house in Khyber Block Allama Iqbal Town against payment of Rs 5 million. The FIA also recovered Rs. 5.8 millions from the possession of one Mukarram, the brother-in-law of the accused. Those arrested included Riaz Naqi, his father Syed Riaz Hussain, his brother-in-law Mukarram, Baraat Ali, Babar Ali Hamayun, Qasim Ali Hamayun and Irfan Sohail, a Bank official of UBL. The FIA investigator said that investigations are underway and more revelations are expected.