LAHORE (DNA) – Former Director Finance ERRA (Earthquake Reconstruction and Rehabilitation Authority) Ikram Naveed, who is a central character in alleged money laundering scam of Shehbaz Sharif unearthed by Daily Mail, was also involved in embezzlement in Punjab Power Development Company (PPDC).

He has also agreed on a plea bargain agreement with the National Accountability Bureau (NAB) and remained a business partner of Shehbaz’ son in law Imran.

Ikram Naveed transferred foreign aid to his account and had confessed embezzlement before NAB. He was Director Finance in ERRA from 2005 to 2012 and during that time DFID sent £54 million aid meant for earthquake victims. Ikram transferred aid money to his account. First inquiry against Ikram was started by the then chairman ERRA Hamid Yar Hiraj in 2008 but Ikram skipped inquiries due to influence of powerful personnel.

He was arrested over embezzlement when he was CEO of PPDC and he confessed plundering in ERRA during investigation. Ikram invested corruption money with son in law of Shehbaz Sharif in real estate sector.