NICL scandal: Seven-year-jail each for ex-chief, five others
KARACHI: An accountability court on Saturday announced its verdict in the NICL mega land scam case and sentenced six, including former chairman Ayaz Khan Niazi, to seven years each in jail.
The court also barred the six convicts from holding any public office for 10 years each.
The scandal pertains to financial embezzlement by former chairman National Insurance Corporation Limited Ayaz Khan Niazi, Mohsin Habib Warraich, the then commerce minister (late) Makhdoom Amin Fahim and several others in the purchase of official land.
The reference, filed by the National Accountability Bureau (NAB), had accused them of purchasing official land in Karachi’s Korangi area at a higher price causing a loss of Rs490 million to the national exchequer, reports Geo.
Following the court