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LAHORE, Jul 03 (APP):The Federal Investigation Agency’s (FIA) Corporate Crime Circle Lahore has successfully apprehended a key suspect inulti-million rupee financial fraud, allegedly carried out in collusion with officials of the Securities and Exchange Commission of Pakistan (SECP).
According to the FIA spokesperson, the arrested individual has been identified as Shehzada Alamgir. The suspect was wanted in a high-profile case for transferring 51 per cent of a company’s shares — worth millions of rupees — into his name using forged documents.
The suspect was taken into custody during a targeted raid in Lahore. Investigations revealed that the accused not only falsified share transfer documents but also prepared fake minutes of the company’s Annual General Meeting (AGM) related to the election of directors. He subsequently used a forged “Consent of Change” to unlawfully remove the company’s chief executive officer, reportedly with the assistance of certain SECP officials, added spokesperson.
The suspect had been evading arrest for a considerable time and was declared a proclaimed offender (PO).
FIA has launched a thorough investigation following the arrest, while raids are ongoing to apprehend other individuals involved in the conspiracy, added spokesperson.