FIA arrests ex-CEO NICL, three others in illegal appointment case

KARACHI: The Federal Investigation Agency (FIA) corporate crime circle has arrested former chief executive officer (CEO) of the National Insurance Company Limited (NICL) and three others in the illegal appointment case, ARY News reported on Monday.

The FIA’s corporate crime circle arrested ex-CEO NICL Captain Retired Jamil Akhtar for allegedly making illegal appointments in the state-run institution.

The officials said that three more accused have been arrested after being spotted by Jamil Akhtar.

Jamil Akhtar had performed duties as NICL chief executive officer from 2015 to 2016 when he illegally approved nine appointments in the institution on the basis of nepotism and violation of law. It was learnt that the same persons had also worked with him before he was appointed as NICL CEO.

The move caused a major financial dent in the national treasury. According to FIA, raids are being conducted to arrest the remaining six accused.