The Punjab chapter of the Federal Investigation Agency (FIA) has arrested three suspects for alleged fraud in three separate cases, The Express Tribune has learnt.
The FIA Commercial Banking Circle (CBC) registered a case against Atif Maqsood, former project manager for a construction company, Design Engineering, and arrested him on the complaint of Usman Yasin, the company’s CEO.
According to the FIA’s enquiry, Maqsood fraudulently opened accounts in Allied Bank Limited (ABL) and Bank of Punjab (BOP) in the name of Design Engineering showing himself as sole proprietor. He deposited cheques written out to Design Engineering into these accounts, allegedly defrauding the company of Rs2.5 million.
He also stole the chequebooks for the company’s accounts and misappropriated Rs5.9 million through forged cheques, the CEO of Design Engineering told investigators.
The CBC has started further investigation after a judicial magistrate granted it physical remand of the suspect for five days.
In another case, the CBC arrested Usman, an employee of IG Traders, for alleged misappropriation of Rs1.487 million from Khalid Hussain and Muhammad Sarwar. The money was meant for the purchase of two tractors. The FIA has registered a case against the suspect and been granted physical remand for five days.
The FIA Corporate Crime Circle (CCC) arrested Shafat Hussain for alleged extortion by posing as an officer of the Sui Northern Gas Pipelines Limited (SNGPL) responsible for recruitment.
According to the FIA’s investigation, Hussain gave forged appointment letters to complaint Muhammad Azam Hafeez and his sister hiring them as billing officer and business accounts officer, respectively. The two discovered the con when they showed up for work at the SNGPL office.
The CCC has registered a case against Hussain and has been granted physical remand of the suspect for three days.
Published in The Express Tribune, March 13th, 2012.
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