Tag Archives: Fraud

Bank fraud accused remanded in custody

Bank fraud accused remanded in custody

LAHORE – An accountability court on Wednesday extended the judicial remand of Muhammad Ajmal Minhas and Muhammad Ibrahim, both accused in a bank fraud case, until March 8. Muhammad Ajmal was a senior officer in Habib Bank, Wasan Pura branch. He is accused of embezzling Rs 2.7 million with the connivance of Muhammad Ibrahim. The court directed the NAB to file a reference against them at the next hearing.

Housing fraud victims sill await recovery of millions

ISLAMABAD – Over 900 Pakistani expatriates have been running from pillar to post for the past 13 years seeking recovery of millions of rupees they paid for plots in a housing scheme duly approved by the Capital Development Authority (CDA), but to no avail. A housing scheme, Jeddah Town, was launched in 1991 by the Gilani Housing Corporation International (Private) Limited, which initially offered 231 plots for sale over an area of 293 kanals.
The CDA approved the layout plan of

NAB allows probe against PML-N MNA for Rs 6b fraud

ISLAMABAD – The executive board meeting of the National Accountability Bureau (NAB) on Wednesday approved complaint verification against PML-N MNA Anjum Aqeel for his alleged involvement in a fraud of Rs 6 billion in the non-transfer of land to National Police Foundation (NPF).
The meeting also approved filing of 11 references against corrupt officials while six complaints were also approved for verification. A source told Pakistan Today that there was enough material against the

FIA looking into alleged fraud at LSE

LAHORE – Federal Investigation Agency (FIA) has begun an informal probe into financial embezzlement of over Rs 24 million that recently occurred at the Lahore Stock Exchange (LSE). Sources revealed that a FIA team visited the bourse to collect evidence.
Sources claimed that the FIA has also included LSE Company Secretary Waseem Baig in the investigation process. However, LSE Managing Director Aftab Ahmed Chaudhry denied the event transpired by stating that he was unaware of any

NIE old machinery purchase fraud goes unnoticed

ISLAMABAD – The management of National Institute of Electronics (NIE) appears to be hushing up a case against one of its employee who had allegedly purchased an old prototype Printed Circuit Board (PCB) machine worth Rs 40 million depriving national exchequer of over Rs 25 million, the present cost of the new machines being Rs 15 million.
A source in the NIE told Pakistan Today that no case had been initiated by the management for the purchase of the machine in 2009. “After the

SC orders crackdown on fraud housing schemes

LAHORE – A full bench of the Supreme Court on Thursday directed the Punjab Housing secretary to crackdown on bogus housing societies which were looting people, as there was no mechanism to monitor such schemes.
The bench directed that Lahore Development Authority (LDA) must ensure, before sanctioning approval to any housing scheme, that its roads, passages, and thoroughfares gave access to public.
The court was hearing a human rights case moved by Azeemullah against Venice

Rs 613 million Sales Tax fraud unearthed

LAHORE: Federal Board of Revenue’s (FBR) Directorate of Intelligence and Investigation, Lahore, has detected the huge General Sales Tax (GST) evasion of Rs 613 million by a group of fraudsters.
Sources revealed that Directorate of Intelligence and Investigation (DII) had registered an FIR against 32 tax evaders and apprehended the mastermind of plot, Ejaz Latif, who was implicated in illegal input tax adjustment on the basis of false sales tax invoices.
A senior FBR

Rs 30m fraud in Nawaz SS Hospital: Sohna

LAHORE: Punjab Labour Minister Ashraf Sohna said on Monday that official records point to the purchase committee and a private company Mediquip in the financial embezzlement of Rs 30 million in the purchase of angiography machine for Nawaz Sharif Social Security Hospital. Giving details of the corruption scandal at a press briefing at his official residence, Sohna said ‘high prices’ were paid for angiography machines, which were supplied by the same medical company to the Punjab

Former British MP admits expenses fraud at Old Bailey

LONDON: Former Labour MP David Chaytor became the first politician to receive a criminal conviction over last year’s parliamentary expenses scandal when he admitted on Friday to fraudulently claiming almost 20,000 pounds.
Chaytor, 61, who had been MP for Bury North, had claimed back money he had paid in rent for houses that were in fact owned by himself and by his mother, and also put in false claims for IT services.
He had previously denied the charges and was due to stand

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