December 03, 2006	Sunday	Ziqa'ad 11, 1427

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SIALKOT, Dec 2: Union Bank’s Aziz Shaheed Road branch manager operations Irfan Khalil, involved in embezzling millions of rupees from account holders by issuing them fake receipts, was sent to jail on judicial remand.

The police and bank’s management detected a fraud while bank manager Nazar Abbas had a case registered against the accused manager operations.

According to the FIR lodged at the Cantonment police station, the accused manager operations embezzled Rs15 million from the accounts of several people, including Waqas Ahmad, Shahid Iqbal Malik, Haq Nawaz, Rizwan Ali Bukhari and Shahid Iqbal. Police said that further investigation was under way.

They said that the plundered amount could be well over Rs70 million as more affected account holders were contacting the bank management.

Police officials said that the accused had been involved in this nasty practice for the last two years. They said the accused employed such tactics not even detected by the bank auditors.

The investigating police officials said that this high profile case might be transferred either to the FIA or the NAB.

When contacted, manager Nazar Abbas avoided providing more details about the fraud case.

However, he said the bank’s high-ups were sifting through a record of all account holders to assess the accurate embezzled amount.