The National Accountability Bureau (NAB) has arrested Zahoor Ahmed, the former manager of a bank branch in Dasu, Upper Kohistan, for his alleged involvement in a Rs 40 billion corruption scandal, The News reported.
Ahmed is accused of bypassing key banking oversight measures between 2019 and 2022, which facilitated the fraudulent encashment of treasury cheques in collaboration with contractors and officials from the Communication and Works Department.
NAB sources revealed that call-up notices have been issued for additional suspects in the case, including two members of parliament.
Investigators further allege that Ahmed opened a company account under his brother’s name, “A. Q. Construction,” to launder over Rs 1 billion in embezzled funds, thereby concealing the fraud and ensuring its continued operation.
With Ahmed’s arrest, the total number of arrests in the case has risen to nine, with NAB confirming that more arrests are expected. The Accountability Court has granted NAB an eight-day physical remand of the suspects as the investigation into what officials are calling one of the largest financial frauds in Khyber Pakhtunkhwa’s history continues.
