Tag Archives: Fraud

Remand of bank fraud accused extended

Remand of bank fraud accused extended

LAHORE – An accountability court on Saturday extended the judicial remand of Imtinan Saeed, Omeed Ayaz Mehmood and Faisal Rasheed until April 12. The trio is accused of embezzling Rs 140 million by obtaining loans on fake documents from the National Bank of Pakistan (NBP). Mehmood was the NBP Lytton Road Branch manager while Saeed was the bank’s legal counsel.
Saeed and Rasheed established five companies including Paragon Leather, Imperial Chemicals, Ikhlaq Traders, Y2K Traders

Hamesh’s friend booked for Rs 56m fraud

HAFIZABAD – Civil Judge Iftikhar-un-Nabi has rejected the bail application of Karam Dad Bhatti in a case of fraud worth Rs 53.9 million and sent him to jail on judicial remand. Meanwhile, the Jalalpur Bhattian police have registered another case against Karam Dad Bhatti, a close friend of former Bank of Punjab president Hamesh Khan and former BoP Jalalpur Bhattian branch manager Asghar Ali on the charges of stealing 750 sacks of rice worth Rs 56.2 million.
Reportedly, the Bank of

Court summons immigration consultant for fraud

LAHORE – The Lahore Consumer Court on Monday summoned the Future Concern Immigration Agency chief executive for March 25 for cheating citizens for Canadian immigration and swindling Rs 0.3 million from citizen Azhar Iftikhar. Complainant Azhar Iftikhar said that Future Concern Immigration Agency Chief Executive Asim Malik took Rs 0.3 million from him in April 2010 for processing his immigration to Canada but embezzled the amount. The complainant said that Malik had taken the fees to

Hamesh Khan’s close friend arrested for Rs 50 million fraud

HAFIZABAD – The city police have arrested Karam Dad Bhatti, a close friend of the Bank of Punjab former president Hamaish Khan over his alleged involvement in a fraud case. According to details, the police have apprehended Karam Dad Bhatti in a fraud case of Rs 50 million on the complaint of Bank of Punjab Hafizabad Manager Rana Muhammad Saleem. The manager also nominated him in another fraud case of Rs 39.7 million. The police arrested him formally and sent him to jail. It was told

FBR unveils Rs 118.60m tax fraud

LAHORE – The Federal Board of Revenue (FBR) Directorate of Intelligence and Investigation has unveiled a massive tax fraud of around Rs 118.60 million in multiple cases of tax evasion.
Data available with Pakistan Today shows that FBR Intelligence and Investigation Wing Faisalabad Directorate General uncovered a sales tax scam to the tune of Rs 109 million in the last 15 days.
Sources at FBR disclosed that a Gojra resident, Abrar Hussain, who was running an electrical

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