A Special Banking Court has granted bail to four banking professionals implicated in a massive PKR 330 million (33 crore) financial fraud case. The court approved the bail applications against a surety bond of PKR 200,000 each for the accused individuals, identified as Ayesha Khalid, Rana Shahan, Aman, and Ambreen.
According to the prosecution, the central figure and mastermind behind the scam, Atif Naqvi, is currently under judicial custody, following arrests made by the Federal Investigation Agency (FIA) Banking Circle in April. The investigation revealed that Naqvi, in active collusion with the accused bank officials, illicitly obtained a fraudulent chequebook for a private power company’s account maintained at the Khayaban-e-Shahbaz branch. Using these unauthorized documents, the suspects successfully transferred PKR 330 million from the company’s funds. The multi-million rupee scam came to light only after the bank management notified the power company of the massive transaction, prompting the company to immediately clarify that they had never authorized or issued any such cheque.
