National Accountability Bureau arrests five accused persons, including 4 bankers and 1 urea dealer, in connection with Rs. 1.6 billion National Fertilizer Marketing Limited case

Islamabad, November 26, 2015 (PPI-OT): NAB has arrested five accused persons, including 4 bankers and 1 urea dealer, in connection with worth Rs. 1.6 billion National Fertilizer Marketing Ltd. (NFML) case. Among the accused persons arrested are;

1. Tauqeer Hasan (Manager MCB, LHR)

2. Muhammad Farooq Khan (Operations Manager, MCB, LHR)

3. Farooq Ehsan Bhatti (Ex-Manager, HBL, Sialkot)

4. Muhammad Yasir Nazir (Operations Manager, HBL, Sialkot)

5. Ch. Abdul Rehman Bhatti (Urea Dealer, NFML)

The accused persons have been arrested on allegations of forgery and fraud, misuse of authority and causing loss to national exchequer. The accused persons, in connivance with others, helped the dealers purchase more than 59000 metric ton of urea in back dates on rates less than the ones applicable at that time.

The arrested bank officers facilitated the urea dealers in this criminal act by preparing bankers cheques in back dates. This act of the accused persons created artificial shortage in the market and caused panic among the farmers. The accused persons have been remanded into physical custody with NAB till 8th December, 2015. In the same case NAB Lahore has already arrested 10 accused persons.

For more information, contact:
National Accountability Bureau (NAB)
Attaturk Avenue G-5/2, Islamabad, Pakistan
Tel: +92-51-111-NAB-NAB (111-622-622)
Fax: +92-51-9214503
Email: chairman@nab.gov.pk, infonab@nab.gov.pk
Website: www.nab.gov.pk