Court ruling on bail plea in EOBI case on May 2

KARACHI: The ruling on the bail plea filed by former director general of Employees Old-Age Benefits Institution (EOBI) Khursheed Wahid Kunwar in Amtex-EOBI fraud case, will be announced on May 2.

The federal anti-corruption court (FACC) headed by Hafeeza Usman on Tuesday heard the arguments tendered by the defence counsel for Kunwar and also on behalf of the prosecution, announced completion of arguments and fixed May 2 to give its ruling.

Advocate Najeeb Jamali contested the bail case of Kunwar, where two public prosecutors, Bakhtiar Channa and Nisar Ahmed Tarrar represented the prosecution opposing the granting bail to Kunwar.

Former EOBI Managing Director Imtiaz Ahmed is also facing this fraud case along with Kunwar and three of the AKD Securities directors.

Three of the AKD officials, AKD Securities Chief Executive Officer (CEO) Farid Alam and two directors Muhammad Iqbal and Tariq Adam are already under detention in this fraud case. The Bail pleas of all these accused have been rejected by the trial court.