PESHAWAR: The National Accountability Bureau, Khyber Pakhtunkhwa, on Friday arrested a bank manager, a cash officer and another accomplice in a funds embezzlement case.

According to a statement issued here, the accused were involved in embezzlement of funds meant for compensation payment to the terrorism affected people after culmination of a military operation in Bajaur Agency, causing huge loss of Rs300 million to the exchequer.

During the course of inquiry, it was revealed that Sardar Khan and Mohammad Ayub in the capacity of branch manager and cash officer at Habib Bank branch in Inayat Kalay opened bogus bank accounts in the name of hundreds of individuals and facilitated the embezzlement.

It said anther accused, Mohammad Riaz Khan, acted as a front man for Inayatullah, agency coordinator for FDMA, aiding and abetting other accused in inclusion of fake survey forms in the payment lists and withdrawal of money from the fake bank accounts opened in the name of individuals.

The statement said Arshad Khan, former director general FDMA, Irfanullah, assistant director FDMA, Inayatullah, agency coordinator and Mohammad Iqbal, former branch manager of the same bank’s Khar branch, had already been apprehended in the case, and an amount of Rs90 million had been recovered through plea bargain.