FIA arrest six accused involved in WAPDA sukuk bond fraud

[Naveed Yaseen]

LAHORE: The Federal Investigation Agency (FIA) has arrested six accused involved in WAPDA sukuk bonds fraud and also recovered Rs 30 million from them, FIA Punjab Director Muhammad Azeem Joiya said at a press conference on Wednesday.

The accused caused the government exchequer a loss of Rs 190 million rupees. The FIA director said the sukuk bonds already issued to the National Fertilizer Company had been illegally issued again to a software engineering company. The fraud involved senior WAPDA officials and Budget and Accounts Officer Taqi Riaz was the mastermind, he claimed. Police have arrested Syed Riaz Hussain, father of the accused Taqi Riaz, Mokaram Ali, Riasat Ali, Irfan Ali, Muhammad Qasim, Hamayoun and Babar Hamayoun. app

http://www.dailytimes.com.pk/default.asp...009_pg7_21