ISLAMABAD: In a major breakthrough for anti-corruption authorities, a special court on Tuesday convicted six individuals for their roles in a high-profile embezzlement scheme targeting the Pakistan Mineral Development Corporation (PMDC).
The judgment, issued on April 28, 2026, marks the conclusion of a legal battle that originated with an investigation by the FIA Composite Circle Hyderabad under FIR No. 11/2021.
The court found that Niaz Akhtar, formerly the assistant manager of accounts at the corporation, acted as the primary architect in the misappropriation of government funds amounting to 58,067,986 rupees. Akhtar was convicted alongside five accomplices identified as Faraz Akhter, Mohammad Tashfeen Khatak, Mohammad Waleed, Abdul Razique, and Mohammad Nawaz. All six men were found guilty of offenses under various sections of the Pakistan Penal Code, including fraud and forgery, in conjunction with the Prevention of Corruption Act of 1947.
The presiding judge sentenced each of the six convicts to five years of rigorous imprisonment. Furthermore, the court mandated heavy financial penalties tailored to each individual’s involvement in the fraud. Niaz Akhtar received the highest fine of 27,915,618 rupees, followed by Abdul Razique at 14,702,214 rupees and Faraz Akhter at 6,521,429 rupees. Other fines included 2,983,400 rupees for Mohammad Waleed, 2,065,315 rupees for Mohammad Tashfeen, and 888,000 rupees for Mohammad Nawaz.
The ruling stipulates that any convict who fails to pay their designated fine will be required to serve an additional two years of rigorous imprisonment.
