The Federal Investigation Agency (FIA) has arrested two people, including a senior banker and a Pakistan International Airlines (PIA) employee, for their involvement in a fraud case of Rs150 million at a private bank.
According to officials, three bank staff members created a fake company named RT Solutions and registered it with the Securities and Exchange Commission of Pakistan (SECP). The company’s head was shown as a PIA naib qasid, who later became part of the scam.
Investigators revealed that the money was first moved to the fake company’s bank account and then transferred to the personal accounts of the banker involved. The accused also used some of the money to buy airline tickets worth Rs12.5 million for foreign trips, while several million rupees were sent to the accounts of their family members.
Those taken into custody include Syed Azim-ul-Shan, AI Head at the bank, and Kashan, a daily wage employee at PIA. The FIA has frozen the related bank accounts and is continuing further investigation into the case.
