Former bank manager held in Faisalabad over alleged Rs42.2 million fraud

FAISALABAD: The Federal Investigation Agency (FIA) in Faisalabad has arrested a former bank branch manager on allegations of defrauding members of the public of more than Rs42 million through fake investment offers and forged bank statements, according to FIA officials.

The suspect, identified as Kashif Shehzad, had served as branch manager at the bank’s Sargodha Road branch. FIA officials said he was taken into custody and a case was registered at the FIA Composite Circle Faisalabad on the complaint of a citizen, Zeeshan Mukhtar.

Case registered on citizen’s complaint

According to the FIA, the case was initiated after Zeeshan Mukhtar filed a complaint alleging that the former manager had collected large sums of money from people by promising services linked to foreign travel documentation and investment returns.

Officials said the accused allegedly obtained Rs42.2 million from victims on the pretext of arranging bank statements for foreign travel and offering investment opportunities carrying high profits.

Allegations of misuse of official position

During the investigation, FIA officials said, it was found that the suspect had allegedly used his official position at the branch to divert funds into private accounts instead of entering the transactions into the bank’s official record.

The agency said the alleged fraud involved both fake investment schemes and forged bank statements. The arrest was made by FIA Faisalabad as part of its action in the case registered at its Composite Circle.

Officials maintained that the accused had served in a managerial role at the Sargodha Road branch and was now facing proceedings in connection with the complaint and the findings of the inquiry.

The FIA statement, as cited by officials, said the suspect was arrested after the inquiry pointed to alleged financial irregularities involving public money collected from citizens. The amount under question in the case is Rs42.2 million.

The agency has linked the alleged fraud to promises made to victims regarding documentation for overseas travel as well as returns on investments. Investigators also said the money was allegedly moved to personal accounts rather than being reflected in official banking records.

The arrest marks the latest development in the case lodged by the FIA Composite Circle Faisalabad following the complaint submitted by Zeeshan Mukhtar.