GUJRAT: The branch manager of a private bank has reportedly fled the country after depriving account-holders of up to Rs800 million on the pretext of investment.

The bank management has launched an inquiry into the matter.

The fleeing manager had earned the trust of several account-holders during the last few years to utilise their finances in different businesses.

Local sources close to the affected account-holders said the embezzled amount might cross Rs1 billion as investigation was underway.

They said the suspect had fled to the United States along with his wife and children during the last week and did not come into contact with the bank staff and account- holders.

It is learnt the manager had been using the finances of some account-holders for investment other than the bank he was serving with for a long time.

The manager had the signed cheque books of some account-holders after developing trust with them and they had reportedly allowed him to use their deposits for the investment purpose and earned a lot of profit from these indirect investments in different businesses.

The major amounts he withdrew before fleeing are said to be of a government contractor in the National Highways Authority and the Punjab Highways Department whereas a spare parts dealer of electric fan manufacturing industry is also among the top affected account-holders.

Some of the affected account-holders reached the residence of the manager located in River Garden Housing Society and attempted to take away his car as well as tried to occupy the house.

However, the security guards foiled their attempts.

Some account-holders approached the bank management for taking action to bring the accused back and recover the money. It is also learnt that other account-holders have started withdrawing their deposits from the bank branch as well as other branches in the city.

When contacted, a senior official of the Federal Investigation Agency said no complainant had so far approached them. He said in such cases, the management of banks would often file complaint against their own employees.

Published in Dawn, October 13th, 2026