News

Renowned industrialist Iqbal Z Ahmad arrested in Hyderabad

By News Desk

November 11, 2023 02:25 PM


Iqbal Z Ahmad

Renowned businessman and industrialist Iqbal Z Ahmad was arrested in Hyderabad after an accountability court cancelled extension in his bail and ordered to send him to jail, reported 24NewsHD TV channel.

The court was hearing a reference filed under money laundering act against Iqbal Z Ahmad and other six accused in connection was causing a loss of 29 billion rupees to the national exchequer. Transactions worth billions of rupees to Britain and other countries were carried out through Iqbal Z Ahmad’s companies.

All the accused including two sons of Iqbal Z Ahmad have been arrested and sent to jail.

The NAB chairman had approved filing a reference in December 2013 against Iqbal Z Ahmad who owned Jamshoro Joint Venture Limited and other companies.

 

Reporter Ali Hamza



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