The Federal Investigation Agency (FIA) in Pakistan has arrested a branch manager of a private bank in Faisalabad over allegations that a bank account was fraudulently opened in a customer’s name and used for textile business transactions worth Rs.420 million.
The suspect, identified as branch manager Waseem Khalil, was arrested in connection with a case registered under six sections of the law, including provisions of the Anti-Corruption Act.
The bank’s operations manager, Fazal Saeed, has also been named as a suspect in the case. Another employee, relationship manager Rashid Ali, has also been accused.
According to the FIA, the three employees allegedly opened a bank account in 2016 in the name of Muhammad Aleem, a resident of Chak 174 near Samundri, without his knowledge or consent.
Investigators allege that the account was subsequently used to conduct textile-related transactions Rs.420 million.
The account was allegedly closed in 2018, after which documents and records used to open the account were removed from the bank, according to the FIA.
The investigation began after Aleem filed a complaint with the agency, saying an account had been opened in his name without his knowledge.
The FIA says Khalil, who was serving as the branch manager, is himself involved in the textile business.
The bank’s Consulting and Investigation Unit has also submitted its report to the FIA as part of the investigation.
