Rejoinder: UBL Fund Managers denies fraud

KARACHI: UBL Fund Managers responded to a news item titled, “Trying to gain personally: Equity trader sacked for leaking confidential information”, that appeared in The Express Tribune on March 25, denying that any of its employees had committed a fraud of Rs70 million. It also denied that the Securities and Exchange Commission had conducted a raid on its premises and seized documents pertaining to the alleged fraud. In a statement, the asset management company said that no fraud had taken place and it was not under any investigation.

Published in The Express Tribune, April 4^th, 2015.