Lahore (24 News): The National Accountability Bureau (NAB) Lahore has struck a major corruption scandal involving the State Life Insurance Corporation, reports 24 News HD.
According to sources, the NAB uncovered a corruption scandal of Rs. 10 crores 60 Lakhs in the government owned State Life Insurance Corporation. In connection to the scandal, NAB officials arrested State Life Regional Manager Abdul Basit Qureshi, and a local government councilor, along with 23 other accused from different parts of the city.
The arrests were made with the help of intelligence sources. The accused are being charged with cashing-in on the bogus policies of State Life and laundering Rs. 10 crores 60 Lakhs.
The accused are alleged to have illegally withdrawn money via 436 checks from 113 different bank accounts. The regional manager in collaboration with his associates gave undue favors to 90 people who had never bought any State Life policies.
The accused would fabricate policy papers and after they would mature, forcibly receive large amounts of money from the unsuspecting customers.
NAB launched an investigation after a complaint was launched by the State Life Lahore Zonal Office and acted upon the evidence gathered. All suspects have been presented before the accountability courts.