Former EOBI MD sent on judicial remand

KARACHI: The Federal Anti-Corruption Court (FACC) on Monday sent former Employees Old-Age Benefit Institution (EOBI) managing director Imtiaz Ahmed to the Central Prison on judicial remand for 14 days. Imtiaz Ahmed is alleged to have caused around Rs290 million loss to the EOBI by having collaborated illegally with the AKD Securities. Three of the AKD officials, Chief Executive Officer (CEO) Farid Alam and two directors Muhammad Iqbal and Tariq Adam, are already under detention in this fraud case.