LAHORE: The National Accountability Bureau (NAB) has arrested 23 accused officials of State Life Insurance Corporation, including a regional manager, in a scam of over Rs 100 million related to bogus policies.
According to a NAB spokesman, the accused caused the heavy loss through bogus insurance policies by opening 113 bank accounts and withdrawing cash against over 430 cheques. He said the accused officials facilitated fake policies to around 90 individuals who had never entered into any policy with State Life Insurance.
He said a local government councillor was also among the arrested accused.To a question, he said the State Life Insurance Corporation management had approached NAB, Lahore, through an application and sought action against all those involved in the crime. An accountability court on Saturday gave the accused in NAB custody on 10-day physical remand.
According to the spokesman, no low-ranking official was arrested as the arrested accused were either serving in grade 18 or grade 19. He said that in the course of inquiry, complete opportunity was provided to accused persons for their stance.
