BUREWALA, May 24 (APP):Federal Investigation Agency's Composite Circle Multan on Sunday registered a case against two private individuals and six bank officers from two different banks over an alleged financial fraud exceeding Rs.65 million in Burewala. The case,registered under inquiry number 2228/2025 on a complaint by Maqsood Ahmed, alleges that Ali Abbas and Mian Muhammad Ahmed forged partnership documents to illegally open bank accounts under the business name "Mawa Foods" …
FIA arrests suspect in Rs.65 m banking fraud case
BUREWALA, May 24 (APP):Federal Investigation Agency’s Composite Circle Multan on Sunday registered a case against two private individuals and six bank officers from two different banks over an alleged financial fraud exceeding Rs.65 million in Burewala.
The case,registered under inquiry number 2228/2025 on a complaint by Maqsood Ahmed, alleges that Ali Abbas and Mian Muhammad Ahmed forged partnership documents to illegally open bank accounts under the business name “Mawa Foods” and seize control of the company’s financial affairs.
According to investigators the accused opened an account at a bank situated Lahore Road Branch Burewala using a fake partnership deed, through which approximately Rs.35.3 million was withdrawn.
A separate account at another bank situated Garden Burewala was opened using a fraudulent food business license, netting over Rs.30 million.
The FIR also names bank officers from both institutions for allegedly facilitating the account approvals in violation of banking regulations.
Officers Muhammad Nadeem Sardar,Masood-ur-Rehman,Shehla Saleem, Iqrar Hussain,Muhammad Owais Iqbal and Muhammad Owais, have been booked under Sections 420,467,468,471,406,409 and 109 of the Pakistan Penal Code.
FIA has arrested one nominated suspect,Muhammad Ahmed with further arrests expected as the investigation continues.
