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Former EOBI Director Iqbal Daud handed over to FIA on two-day remand

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KARACHI: A local court in Karachi has handed over former Director Investment of the Employees Old-age Benefits Institution (EOBI), Iqbal Daud, to the Federal Investigation Agency (FIA) on two-day remand.

Earlier on Mnday, the FIA took Daud Iqbal into custody for involvement in the EOBI corruption scandal and presented him before the court today.

Daud Iqbal, being Director Investment, had chaired that meeting of the EOBI on December 14, 2012, which decided to purchase four hectares of land.

The real market price of that four hectares land was 470 million rupees but heavy loss was caused to the national exchequer by paying 2.2 billion rupees for that, informed FIA sources.

The FIA has taken four accused into custody and one has taken interim bail in the EOBI corruption scandal.

Federal Anti-corruption Court has given interim bail to accused Nighat Asad up till July 11.

Asad Haroon
A netpreneur, blogger and above all; A Human 🙂 Asad tweets from @aghaasadharoon and can also be approached on Google+

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