The accused, Shah Salim Khan, was arrested in Islamabad. He is accused of defrauding the National Bank of Pakistan Sost branch of Rs50 million.
NAB officials produced Salim before an accountability court for his transit remand. They informed the court that the accused borrowed Rs50 million from the bank on fake documents as the vice-chairman of a company.
Salim failed to appear before NAB despite repeated summons, the officials said.
Usama Khalid, the defence counsel, said the reputation of his client was being tarnished by wrongfully arresting him in a case registered 10 years ago.
Salim told the court that the borrowed amount was returned to the NBP. He said his arrest ahead of the November 15 GB elections is based on malafide intentions.
The court granted NAB four-day transit remand of the accused and ordered officials to produce him before the relevant GB court.