Pakistan Company News – NAB files reference against 13 accused persons

NAB files reference against 13 accused persons

National Accountability Bureau (NAB) Karachi after completion of inquiry has filed reference against 13 accused persons.

NAB said in a statement in Karachi on Friday that reference has been filed on allegations of illegal investment and restructuring of investment amounting 100 million rupees in First Dawood Investment Bank Ltd by National Insurance Company Ltd during 2008-09.

It said investment was made by accused persons in violation of policy and with mala-fide intention of illegally favouring FDIBL by boosting their financial health.

The illegal investment caused loss the national exchequer to the tune of Rs 64.057 million.

Source: Radio Pakistan