TOBA TEK SINGH: An area manager of a bank has fled to the US after allegedly misappropriating Rs600 million from more than 500 account holders across eight branches in Faisalabad city.

According to Federal Investigation Agency officials, Raja Ammar Kiani had formed a gang consisting of staffers from these eight branches, and they were operating a parallel banking system by enticing account holders with promises of high profits.

Kiani had his office in the bank’s Madina Town, Susan Road, branch and during the last five months, all account holders were issued fake bank receipts when depositing money.

The fraud came to light when Kiani and his gang members disappeared from the bank branches a few days ago.

FIA officials said his accomplices had also fled abroad, and the FIA is investigating the fraud.

Published in Dawn, September 9th, 2023

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