SIALKOT, Aug 21: The victims of United Bank (UBL) Zafarwal branch fraud on Monday observed hunger strike and staged a peaceful demonstration in front of the bank as the management kept the branch closed for the seventh consecutive day.

The protesters, led by Zafarwal Union Council nazim Mujahid Mukhtar, were holding banners and placards and chanted slogans against the bank management for not giving them back their ‘plundered’ money.

Despite a weeklong agitation by the account holders, the management has failed to find an amicable solution to the issue, reportedly not making any sincere effort to ensure early payment to them. However, the management said if the situation persisted, they would close down the branch.

The protesters said seven months ago, the then manager Muhammad Jarar had embezzled Rs25 million by the amounts from the accounts of uneducated account holders by issuing them fake cheque books, pass books and receipts of their deposited amounts.

Mr Mukhtar told newsmen that after failing to get their amounts back from the bank, the account holders forcibly closed the branch.

He said the situation was still peaceful. The district administration was fully supporting these affected people. “We are with them against the UBL management highhandedness.”

They urged the president, prime minister, State Bank governor and Punjab chief minister to look into the matter and direct the management to ensure early payments to the account holders.

When contacted, a high ranking official in Narowal said a fraud case had already been registered against the branch manager.

Police have not yet arrested the accused. They claimed that the accused was on bail granted by a local court.