Bank Al Habib fraud worth billions of rupees unearthed
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FAISALABAD – Several customers of Bank Al Habib, a private Pakistani bank, have been deprived of billions of rupees allegedly by bank officials in a fraud in Faisalabad city of the Punjab province, it emerged on Thursday.
Reports said the Federal Investigation Agency (FIA) has launched an investigation into the scam after receiving multiple complaints from customers of the bank’s different branches in the city.
Prime suspect, identified as Raja Ammar Kiyani, who was area manager in Faisalabad, has reportedly fled to the United States of America (USA) to avoid legal action after looting over Rs5 billion from people.
Other suspects involved in the case are also disappeared since the FIA has started investigating the matter.
Reports said they were running a parallel banking system under which they issued fake letters to people after receiving payments. They also gave profits to the customers for a few months to attract more depositors.
The high-ups of the Bank Al Habib have also reached Faisalabad to look into the matter.
The actual amount looted in the fraud is bigger, as FIA is still receiving more complaints in this regard.
