LAHORE: The Federal Investigation Agency (FIA) has booked four persons, including bank employees, involved in a multi-million-rupee financial fraud.

The FIA Composite Circle Faisalabad on Wednesday conducted a raid and arrested one suspect identified as Muhammad Sohail.

“The suspect, in collusion with his accomplices, embezzled millions of rupees from a trust fund account. He fabricated a fake trust deed under the name of a private trust and opened an account using this forged document with the assistance of bank employees,” the FIA said.

Two employees of the private bank were found to be complicit in this fraud. The account in question had received millions in donations from citizens.

“The suspect was arrested in Lahore and has been charged with embezzling millions of rupees from the account established under the guise of the private trust. The total amount defrauded exceeds Rs20 million. Initial investigations reveal that the suspects had opened accounts not only in Faisalabad but also in Lahore.”

The suspects also face forgery charges in cases registered with the local police.

Published in Dawn, November 21st, 2024