Three ex-bank employees jailed for embezzling Rs97.6 mln

LAHORE, Jul 07 (APP):A Special Court (Offences in Banks) on Tuesday convicted three former bank employees

in a case involving the embezzlement of more than Rs97.6 million from 39 account holders.Judge Special Court (Offences in Banks) Husnain Qadir convicted the accused-Muhammad Raza Hasan, Mohsin Abbas Naqvi and Syeda Fariha Shah – after finding them guilty of misappropriating depositors’ funds.The court sentenced the main accused Muhammad Raza Hasan, to 28 years’ rigorous imprisonment with a fine of Rs 60 million. The two co-accused Mohsin Abbas Naqvi and Syeda Fariha Shah, were sentenced to 18 years’ rigorous imprisonment each with a fine of Rs30 million.Following the verdict, the court ordered that all three convicts be sent to jail.The Federal Investigation Agency’s (FIA) Commercial Banking Circle Lahore had egistered a case against the accused in 2024.

According to the FIA, the convicts abused their powers as bank employees to embezzle

more than Rs97.6 million. The FIA credited the convictions to a thorough investigation

and effective prosecution.

The investigation was conducted under the supervision of Deputy Director Malik Sikandar

Hayat, while Assistant Director (Legal) Barrister Rana Uzair represented the prosecution

before the court.