LAHORE: The Federal Investigation Agency (FIA) has arrested a former private bank branch manager at Lahore’s Allama Iqbal International Airport in an alleged Rs10 million investment fraud case after he returned to Pakistan from the United Arab Emirates.
Former Bank Manager Arrested
The suspect was identified as Imran Sajid, a former branch manager of a private bank’s MA Jinnah Road branch in Okara. According to the FIA, Sajid had been declared a proclaimed offender and his name was placed on the Passport Control List (PCL).
He was arrested by the FIA’s Anti-Corruption and Economic Crimes Wing, Faisalabad, in an operation led by Sub-Inspector Ajmal Hussain.
Rs10 Million Investment Fraud Alleged
The case originated from a complaint filed by Rehmat Ali, a resident of Okara. The FIA said Sajid and an alleged accomplice convinced the complainant to provide Rs10 million, promising attractive returns on the investment.
Investigators allege that the money was not deposited into the bank as promised and was instead misappropriated by the suspects.
Rs5 Million Still Outstanding
According to the FIA, the complainant later demanded the return of his money. The suspects allegedly returned Rs2.5 million in cash and issued a cheque for another Rs2.5 million.
The cheque was reportedly dishonoured, leaving Rs5 million outstanding, according to the agency’s investigation.
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FIA Launches Further Investigation
The FIA registered a case following an inquiry into the complaint. The charges include provisions of the Prevention of Corruption Act and the Pakistan Penal Code relating to corruption, criminal breach of trust and cheating.
The agency is continuing its investigation to determine the alleged role of other individuals and examine the financial transactions involved in the case.
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