ISLAMABAD: The National Accountability Bureau (NAB) has arrested a former dumper driver accused of masterminding a multi-billion-rupee fraud and money laundering operation involving fake companies and government funds.
According to NAB officials in Khyber Pakhtunkhwa, the suspect was detained in Abbottabad after investigators uncovered evidence linking him to one of the province’s largest financial scams. He allegedly embezzled more than Rs. 3 billion directly from the government treasury and laundered over Rs. 16 billion through a web of personal and corporate bank accounts. Authorities estimate the total scam at around Rs. 40 billion.
Fake Firm Used to Siphon Public Funds
Investigators revealed that the accused posed as the owner and director of a fictitious construction company, M/s Mumtaz Khan Construction Company. The firm was allegedly used as a front to divert funds from the Contractors’ Security Deposit Head of Account, an account intended to ensure the completion of public projects.
Officials said the suspect, who once worked as an ordinary dumper driver, created multiple bank accounts under the fake company’s name to receive and transfer government treasury cheques. These accounts reportedly served as primary channels for fraudulent transactions.
Sophisticated Money-Laundering Techniques Deployed
NAB officials claim the suspect employed advanced money-laundering techniques, including “layering,” to conceal the origins of the embezzled funds. The stolen money was allegedly used to purchase luxury properties, expensive vehicles, and other high-value assets, registered under the names of relatives, associates, and frontmen to avoid detection.
Court Grants NAB Eight-Day Remand
Following the arrest, the accused was produced before an accountability court in Peshawar, which granted NAB an eight-day physical remand for further interrogation and evidence recovery. Officials confirmed that the investigation is still ongoing, with efforts underway to trace additional accomplices and recover misappropriated assets.
NAB has vowed to continue its crackdown on individuals and networks involved in financial crimes, corruption, and public fund embezzlement, reaffirming its commitment to ensuring accountability and transparency across all sectors.
