LAHORE: The National Accountability Bureau (NAB) has deposited Rs500 million into the national exchequer after recovering the amount from seized bank accounts of former finance minister Ishaq Dar, a source said on Tuesday.

The anti-graft watchdog also initiated a money laundering investigation against the former minister, who is absconding.

According to an official, the amount has been recovered from three different accounts of Mr Dar.

`On Tuesday the amount (Rs500m)was deposited into the exchequer, the official told Dawn.

He said the bureau had opened a formal probe against Mr Dar on money laundering allegations.

`NAB has received credible evidence against the former finance minister of the PML-N government for laundering money,` he said.

On Saturday, a team of the Lahore city district government took control of a five-kanal house (7-H Hajvery House, Gulberg III) belonging to Mr Dar who is facing a corruption reference in `income beyond means` cases.

Because he is absconding in a corruption reference, all the movable and immovable assets of Mr Dar the Gulberg house; three plots in Al Falah Housing Society, Lahore; six acres of land in Islamabad; a twokanal plot in Parliamentarians Enclave, Islamabad; a plot in the Senate Cooperative Housing Society, Islamabad; a plot measuring two 1(anals and another of ninemarlas in Islamabad; and six vehicles have been attached on the request of NAB.

Mr Dar was declared an absconder by the Supreme Court in 2017 when he failed to appear before it as he was in London, reportedly undergoing medical treatment. Since then he has remained in London.

Meanwhile, the NAB teams conducted search in the Gulberg and Cavalry Ground offices of PML-N president Shahbaz Sharif, his sons Hamza Shahbaz and Suleman on charges of money laundering and possessing assets beyond known sources of income.

NAB reportedly secured evidence against the PML-N leaders from their offices.

PML-N vice president Maryam Nawaz is likely to appear before officials of NAB Lahore on Wednesday (today) in a money laundering case in connection with the affairs of Chaudhry Sugar Mills.