LAHORE: The Accountability Court again approved physical remand of a suspect arrested in Rs 16 billion scam. Hammad Arshad was presented before the court after one day physical remand by the Lahore National Accountability Bureau (NAB) team.
Earlier, NAB had arrested the suspect for his alleged involvement in a fraud case of Defence Housing Authority (DHA).
According to the NAB spokesperson, the suspect was arrested on allegations of corruption, cheating public at large and misappropriation of funds.
The accused Hammad Arshad, owner of Globco (Private) Limited, offered his services and agreement with DHA EME Lahore but he failed to do so. He had failed to acquire land measuring 25,000 canals. Accused company was assigned the task to develop land and to acquire as well but within the given time they acquired land measuring 13013 canals only. He allotted plots of EME society without land and made huge fraud with people. He collected more the Rs 16 billion and invested that money in his personal business and for other projects. In this regard, the National Accountability Bureau Lahore started investigation and found him guilty.
