ISLAMABAD: The Federal Investigation Agency’s Anticorruption Circle (Islamabad) has arrested three more accused in the Islamabad Electric Supply Company (IESCO) billing fraud case.
According to sources, the FIA has arrested three more officials of IESCO and recovered three bogus bank stamps from them.
They said that FIA’s anti-corruption circle has obtained two-day physical remand of the accused, namely Waqas, Asif and Abid.
Two of the arrested people work with IESCO as account assistant and commercial assistant, sources confirmed. However, the main culprits, owing to their higher positions, still remain at large, they added.
It is relevant to mention that FIA’s anti-corruption wing had opened investigations against four officials of the IESCO in an alleged Rs207 million scam. The agency transpired that ex-RO Mohammad Naeem (IESCO Subdivision-1 Islamabad), Commercial Assistant Khalid Mahmood (CSO-1, IESCO Division-1 Islamabad), Account Assistant Mohammad Rafiq and Gul Khatab, in connivance with each other, prepared and posted bogus scrolls related to IESCO consumers bills using fake bank statements.
“The clearance and verification of all bogus scrolls were done through Khalid Mahmood. These cleared and reconciled bogus scrolls, as well as fake bank statements, were then forwarded to the IESCO online system.”
Sources further said that the Securities and Exchange Commission of Pakistan (SECP) had not taken notice of this embezzlement even after examining the financial statement of the IESCO.