Pakistan

NBP former VP indicted in 10m corruption case

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An accountability court on Friday convicted former vice president of the National Bank of Pakistan (NBP) Usman Saeed in a Rs 10 million corruption reference and sentenced him to four-year imprisonment.

Accountability court judge Azizullah Kallu convicted Usman Saeed under section 9 (A)(iii)(vi) & (xi) of the National Accountability Ordinance 1999. Judge also imposed a fine of Rs10 million on the accused, who was present before the court at the time of the announcement of the verdict.

After conviction, Usman Saeed shall stand disqualified for ten years for being elected, chosen or nominated as a member of any public body or in service of Pakistan.

Usman Saeed who was also the head of the foreign exchange department of the bank’s main branch on Mall Road, Lahore was accused of tampering and manipulating general ledgers of the branch and caused a loss of millions of rupees to the bank.

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