KARACHI (APP) - The National Accountability Bureau (NAB), Sindh, has arrested CEO of a private company which caused a loss of Rs 195 million to the PIA. According to a notification issued by the Sindh Chapter of NAB, Sohail Hassan, CEO, M/s Cargo Aids Private Ltd, was arrested on allegations of criminal breach of trust and misuse of authority by the accused in connivance of PIAC officers by defaulting Rs. 195 million payable to PIAC by the cargo company in which initially four (4) bogus cheques amounting Rs. 132 million were issued. The initiated investigation on a compliant against the company in November 2007. The Company has been working since 1976 as cargo sales agent of PIA for marketing of the passenger and cargo transport services. M/s cargo defaulted in making payment of Rs. 195 million payable to PIAC. This default was made in collusion with officials/ officers of PIAC by making gross violation of rules, notifications, circulars and various other administration orders. PIA officials allowed the credit to surge beyond the limit in violation of rules and policies. On October 22, 2007, PIAC suspended its business dealing with M/s Cargo Aids and also suspended two employees identified as Aftab Ahmed and Ibrahim Noor. An internal audit during the years 2001, 2003, 2008 pointed out the recurring instances of dishonoring of cheques by the company. Investigation is still in progress with more revelations to surface. Presently main accused Sohail Hassan has been arrested in compliance of Warrant of Arrest issued by DG NAB Sindh. The accused has been remanded for NAB custody for 14-day for further investigation, it was announced.