LAHORE - An accountability court yesterday handed over a former nazim and owner of Formanites Housing Scheme Zahoor Wattoo to NAB authorities on six-day physical remand allegedly involved in a fraud case of Rs 1.5 billion.

The NAB officials produced the suspect before the court and sought his physical remand to investigate the case.

An investigation officer told the court that Zahoor Wattoo, also a co-owner of a private news channel, and others deprived a large number of people of their hard earned money invested in the housing scheme. He said that 1000 complaints were received against Watto for selling non-existent plots to people.

The officer said custody of the suspect was required to complete investigation of the case and recovery of the looted money. The court accepted the request and granted six-day physical remand of the suspect. The court put off the hearing for Oct 4.