LAHORE: The Federal Investigation Agency (FIA) has arrested a banker and the Pakistan International Airlines (PIA) naib qasid over involvement in a fraud worth Rs150 million at a private bank.
According to details, three bank officials conspired to form a company called RT Solutions and registered it with the Securities and Exchange Commission of Pakistan (SECP). The head of this company was appointed as the PIA deputy messenger.
The defrauded amount was first transferred to the fake company’s account and then to the personal accounts of the banker involved.
The accused also purchased air tickets worth Rs12.5 million for foreign trips and transferred millions of rupees to family members’ accounts.
Those arrested include Syed Azim-ul-Shan, AI Head at the bank, and Kashan, a daily wages employee at the PIA.
The FIA has frozen the related accounts and continues further investigation.
