LAHORE: National Accountability Bureau’s Director General Shahzad Saleem on Tuesday handed over a cheque of Rs64.6 million to an official of the Pakistan Reinsurance Company Limited (PRCL).
The amount was recovered from accused CEO Zahoor Ahmed and Management of M/s Pakistan General Insurance Company Limited (PGI). According to NAB spokesman, Securities and Exchange Commission of Pakistan had lodged a complaint with NAB Lahore last year stating that Pakistan General Insurance Company Limited caused a loss to Pakistan Reinsurance Company Limited (PRCL) to the tune of Rs 57.156 million by way of submitting 87 bogus reinsurance claims to PRCL.
In cognizance to the allegations of embezzlement and misappropriation conducted by the corrupt officials of PGI, the NAB Lahore recovered all the misappropriated money worth Rs 86.219 million through Plea Bargain Law.
