Ali Jahangir Siddique is summoned by NAB office in Lahore on March 22 on allegations of embezzlement.

Ali Jahangir Siddique is currently an advisor to Prime Minister Shahid Khaqan Abbasi. Earlier this month, he was appointed as Pakistan’s envoy to US and will take charge of his duties next month after the retirement of Aizaz Ahmad Chaudhry.

According to a notice issued by NAB, he has caused loss of RS40 million to investors as director investment of the Firm, Azgard Nine Ltd. He is accused of “siphoning off amount of €23.758 million in 2008 buying for the purchase of an Italian company, Monte Bello SRL, using a foreign company, Fairytal SRL Sweden, which resulted in a loss to the company and shareholders.”

He has also been asked to clarify himself from the allegations of selling shares of Agritech Ltd to different government and financial institutions by Azgard Nine Ltd higher than their market price to settle the loan defaults of the company, which resulted in a loss to the company and shareholders.