Three former bankers convicted in Rs976m Lahore embezzlement case
A special FIA court in Lahore has convicted three former bank employees in a Rs976 million embezzlement case involving 39 account holders. The principal convict received 28 years in prison, while the two others were jailed for 18 years each.
LAHORE: A special court of the Federal Investigation Agency on Tuesday convicted three former bank employees in a case involving the embezzlement of more than Rs976 million from 39 account holders, according to FIA Lahore.
The agency said the court found Muhammad Raza Hassan, Mohsin Abbas Naqvi and Syeda Fareeha Shah guilty of misusing their official positions in the fraud. Muhammad Raza Hassan, identified as the principal convict, was sentenced to 28 years of rigorous imprisonment and fined Rs600 million.
The two other convicts, Mohsin Abbas Naqvi and Syeda Fareeha Shah, were each handed 18 years of rigorous imprisonment. The court also imposed fines of Rs300 million on each of them, the FIA said.
According to the agency, the convictions followed an investigation by its Commercial Banking Circle in Lahore. The FIA said the inquiry was completed under the supervision of Deputy Director Malik Sikandar Hayat, while Assistant Director (Legal) Barrister Rana Uzair represented the prosecution before the court.
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