Karachi Accountability Court (AC) has awarded conviction of imprisonment of seven years and a fine of Rs12.997 million to accused Syed Altaf Hussain, an employee of United Bank of Pakistan (UBL).

In the case of non-payment of fine, he shall spend a further two years term in prison. The accused shall also stand disqualified for 21 years for seeking, or from being elected chosen appointed or nominated as a member or representative of any public office, or any statutory or local authority of the Government of Pakistan.

Further, the accused shall not be allowed to apply for or be granted or allowed any financial facilities in the form of any loan or advances from any bank or financial institution in the public sector, for a period of 10 years from the date of conviction.

The conviction was awarded when NAB prosecution has made out the case involving embezzlement of amount worth Rs.12.997 million in Ufone bank account maintained in UBL Hamid Square branch, Gulshan-e-Iqbal. The accused was arrested and sent to jail for serving his conviction term.