LAHORE: The Accountability Court has sent Hammad Arshad, allegedly involved in Defence Housing Authority (DHA) scam of Rs 16 billion, to jail on a judicial remand. The NAB authorities had arrested Arshad and got his physical remand for investigations. According to NAB spokesperson, the suspect was arrested on allegations of corruption, cheating public at large and misappropriation of funds.
Arshad, the owner of Globco (Private) Limited, had signed an agreement with DHA EME Lahore but he failed to honour his commitments. According to sources, his company was assigned the task to acquire land measuring 25,000 kanal and develop it within the given time. However, the company could acquire only 13,013 kanal.
Arshad allotted plots of EME Society without land and made a huge fraud with the people. He collected more than Rs 16 billion and invested the money in his personal business and other projects. In this regard, the National Accountability Bureau started investigations and found him guilty.
On Saturday, he was presented before the court where the NAB team asked for more physical remand but the court refused to give further remand and sent him to jail on judicial remand.
