RAWALPINDI, Dec 3 The Federal Investigation Agency (FIA) has arrested four senior officials of a commercial bank on the charge of involvement in a car leasing fraud.

Authorities of the FIA's commercial banking circle said the accused had caused a loss of Rs17.5 million to the bank by selling at least 32 cars impounded after the lessees defaulted on payments and pocketing the money.

Inspector Adnan Lohani of the FIA, who is leading the investigation into the case, said the four senior officials of the bank were being interrogated.

The arrested bank officials were identified as Abbas Khalid, regional manager; Syed Asif Abbas Kazmi, collection in-charge, Asif Mehmood, manager autos, and Kashif Iqbal, recovery officer.

He said no official of the excise and taxation department was involved in the case.

The FIA official also revealed that the accused had set up a private yard near the Racecourse Ground where they used to park the impounded cars after their seizure.