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KARACHI, Mar 19 (APP):National Accountability Bureau (NAB) Karachi handed over the physical possession of properties worth Rs107.905 million to Pakistan State Oil (PSO), the properties were confiscated by NAB Karachi from the convicted accused Iqbal Ahmed Turabi, the then Manager banking, Pakistan State Oil and his wife / Benamidars who were involved in the offense of corruption and corrupt practices regarding accumulation of assets beyond know sources of income.
NAB Karachi had conducted inquiry and subsequently, filed Reference No. 39/2001 against the said accused and his spouse / benamidars in the Accountability Court, Sindh at Karachi, whereas, the Accountability Court convicted and sentenced the accused persons to undergo rigorous imprisonment for 10 & 5 years respectively and also imposed a fine of Rs95 million on the accused persons along with confiscation of properties. The convicted accused persons filed appeal before the Hon’ble Sindh High Court, Karachi and subsequently before Supreme Court of Pakistan, which were dismissed by the court.
Consequently, NAB Karachi took over the physical possession of 4x properties of convicted persons and the same were handed over by Javed Akbar Riaz, DG NAB Karachi to Brigadier (R) Rizwan Ahmed, General Manager (Security Services & Administration, Pakistan State Oil Karachi on 19 March 2025 in a handing over ceremony at Regional Headquarters of NAB at Karachi.
Javed Akbar Riaz, DG NAB (Karachi), reaffirmed the Bureau’s commitment for recovering looted money and returning it to the affected departments and individuals.
He further said that under the leadership of Chairman NAB, Lieutenant General (R) Nazir Ahmed, NAB Karachi remains committed to combating corruption and corrupt practices with dedication and professionalism.