PESHAWAR: The National Accountability Bureau (NAB) Khyber Pakhtunkhwa chapter has arrested the prime suspect in the Rs40 billion Kohistan corruption case — one of the largest financial scandals in Pakistan’s history.
Officials confirmed that the accused, Qaiser Iqbal, was taken into custody along with his wife shortly after being discharged from Abbottabad Medical Complex on October 18. Both are under investigation for allegedly misappropriating public funds exceeding Rs40bn.
According to NAB sources, the Kohistan Corruption Case revolves around fraudulent withdrawals under the government’s Head of Account G-10113. Officials from the Communication and Works (C&W) Department, District Accounts Office, Accountant General’s Office, and the National Bank of Pakistan are accused of colluding with private contractors to siphon off funds earmarked for public projects in Upper Kohistan.
Investigations revealed that fake bills, bogus cheques, and fabricated schedules were prepared and processed by officials in connivance with contractors. Several suspects, including government employees, bankers, and contractors, have already been arrested, while properties, luxury vehicles, gold, cash, and foreign currency worth billions have been seized.
NAB identified Qaiser, who served as a clerk and later head clerk in the C&W Department since August 2013, as the mastermind of the scam. He is accused of orchestrating the fraudulent withdrawals by preparing falsified documents and facilitating illegal transfers from the government treasury.
During raids, NAB recovered gold, foreign currency, vehicles, property papers, and original records of treasury cheques from Qaiser’s residence, exposing the scale of the operation. Sources said billions were transferred into accounts belonging to Qaiser’s wife and a contractor named Mumtaz, while other influential figures allegedly benefited as well.
NAB officials believe the corruption network extended beyond district-level staff, possibly involving senior officers who overlooked or enabled the fraud for years.
On Sunday, the accountability court in Peshawar approved a seven-day physical remand for Qaiser and a four-day remand for his wife. NAB has hinted that more high-profile arrests are expected as investigators pursue the money trail and property records linked to the scandal.
