KARACHI: The National Accountability Bureau (NAB) Karachi has handed over properties worth Rs.107.905 million to Pakistan State Oil (PSO) following the successful prosecution of a corruption case involving a former PSO banking manager.
According to the details, Director General NAB Karachi Javed Akbar Riaz officially transferred the physical possession of four properties to Brigadier Rizwan Ahmed (retd), General Manager of Security Services & Administration at PSO.
The properties were confiscated from Iqbal Ahmed Turabi, former Manager Banking at PSO, and his wife who were convicted of corruption and accumulating assets beyond known sources of income.
Following an inquiry, NAB Karachi filed Reference No. 39/2001 against the accused and their benamidars (proxy owners) in the Accountability Court Sindh at Karachi.
The court convicted the accused, sentencing Turabi to 10 years of rigorous imprisonment while his spouse received a 5-year sentence. Additionally, a fine of Rs.95 million was imposed, along with the confiscation of properties. The convicted individuals subsequently appealed to the Sindh High Court and later to the Supreme Court of Pakistan, but both appeals were dismissed, upholding the original conviction.
Copyright Business Recorder, 2025
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