PESHAWAR: National Accountability Bureau (NAB) Khyber Pakhtunkhwa has arrested accused Muhammad Ramzan Sheikh, chief of Ms Ideal Hydrotech, and Asghar Khan in the embezzlement of funds in the Clean Drinking Water for All Project, causing loss of millions of rupees to the exchequer.
A press release of the NAB said that Ramzan in connivance with other co-accused persons gave fake bank guarantees and illegally secured mobilisation advance for execution of the project.
Asghar Khan, an employee of a private bank, verified the fake guarantees produced by the contractors.
