ISLAMABAD: The Federal Investigation Agency (FIA) has registered a case against Pakistani businessmen, Malik Naveed Asghar and Malik Rehan, along with bank official Haris Khan, for allegedly defrauding Chinese investor Zhi Cheng Li, also known as Donald.
The FIR, numbered 33/2023 filed by FIA’s Commercial Banks Circle, contains charges under sections 409, 420, 468, 471, and 109 of the Pakistan Penal Code.
Background: The case centres a contract won by China HBP worth $178 million from OGDCL in 2015. To facilitate the project, Li, along with his Pakistani partners, established M/s NASYS International Co. (Pvt.) Limited, with Li holding 45% shares and Naveed and Rehan at 45% and 10%, respectively.
Alleged Fraudulent Activities:
The FIR alleges that Naveed and Rehan, in collaboration with Haris Khan, forged Li’s signatures to open multiple bank accounts, leading to a substantial financial turnover. These transactions occurred without Li’s knowledge, as he was out of the country at the time. The FIR emphasizes that these actions constitute offenses of cheating, fraud, and criminal breach of trust under Pakistani law.
Legal Battle and FIA’s Involvement:
Li filed a complaint with the FIA in 2017, which was closed in 2020 after a prolonged period of investigation. Unsatisfied with the outcome, Li requested the reopening of the inquiry, providing detailed information to the new investigating officer. Despite his efforts and appeals to various legal and regulatory authorities, including courts, SECP, FIA, and NAB, justice remained elusive for Li, as he sought resolution for his case. The Chinese Embassy is also closely monitoring the situation, expressing anticipation for a just resolution.
Current Status:
The FIR has been sealed, and the FIA is actively pursuing the case. Despite the issuance of pre-arrest bails for the accused Naveed and Rehan, the investigation continues, with the possibility of further individuals being implicated during the course of the inquiry.
