Former bank manager arrested for Rs42m scam

FAISALABAD:

The Federal Investigation Agency (FIA) Faisalabad has arrested a former branch manager of a bank for allegedly defrauding citizens of over Rs42 million through fake investment schemes and forged bank statements.

FIA officials said the accused, Kashif Shehzad, who served as branch manager at the Sargodha Road branch, was taken into custody and a case was registered at FIA Composite Circle Faisalabad on the complaint of a citizen, Zeeshan Mukhtar.

The suspect allegedly collected Rs42.2 million from victims on the pretext of preparing bank statements for foreign travel and offering high-profit investment opportunities.During the investigation, it emerged that he misused his official position by diverting funds into private accounts instead of recording them in official bank records.