PESHAWAR: An accountability court here on Thursday approved a plea bargain of Rs513.138 million of a former bank cashier arrested by National Accountability Bureau in a high-profile case involving the alleged embezzlement of over Rs37 billion in the Upper Kohistan district accounts office.

Judge Mohammad Zafar pronounced that the suspect, Musharraf Shah, a former cashier at National Bank of Pakistan, Dassu branch, was discharged from his liability as he had voluntarily surrendered the crime proceed. The court ordered his release, if not required in any other case.

The judge ruled that the suspect admitted his guilt in the shape of plea bargain and availed the benefit of Section 25 (b) of National Accountability Ordinance, as such he was deemed to be convicted and stood disqualified (from holding public office) as provided under Section 15 of the ordinance.

The plea bargain application of the suspect was accepted by NAB chairman on Nov 4, 2026, and the matter was referred to the accountability court for final approval.

The special prosecutors of NAB, Habibullah Baig and Fahim Khan, along with the investigation officer Inayatullah Khan, appeared before the court and stated that the suspect had served as cashier in NBP Dassu branch from Oct 7, 2021, to March 5, 2025.

They stated that he misused his authority in active connivance with others in the facilitation of misappropriation from the government funds through illegal clearance of treasury cheques and inflicted loss on the exchequer to the tune of Rs37 billion.

They said that the NAB authorities determined the liabilities of the suspect to the tune of Rs513.138 million. The suspect was summoned from Peshawar Central Prison for recording his statement.

The judge pronounced that the suspect had conceded that his plea bargain agreement with NAB had his complete consent and according to his free will and not under any duress, coercion or pressure.

The suspect, in his statement, conceded that out of the crime proceed he had purchased two houses in the name of his wife Nabila Shah in Abbottabad and Shangla that were worth Rs84.223 million and Rs21.435 million, respectively.

He said that he had transferred crime proceeds to the tune of Rs200 million in the bank account of his friend Mohammad Imlaq. Similarly, he stated that an amount of Rs207.480 million was deposited by him in the account of a company Speen Ghar Construction, which was in the name of his brother Arshad Khan.

He said that he was operating the two bank accounts through free signed cheque books. He stated that neither his wife Nabila, nor his brother Arshad and friend Imlaq had any connection with the commission of the offence.

So far NAB has arrested around 40 persons in the instant case. It claimed that it had received a source report on April 8, 2025, alleging massive financial scam in Upper Kohistan, involving the illegal withdrawal and misappropriation of over Rs37 billion from the contractor’s security deposit head of Account G-10113.

It stated that the allegations implicated a network of government officials, bank personnel and private contractors in a meticulously orchestrated conspiracy that exploited the systemic vulnerabilities and violated the Accounting Policies and Procedures Manual.

Published in Dawn, November 13th, 2026