Biggest ever bank fraud in Pak history

[maqsad]

I don't know how old this news is, the first time I saw it was today so I have no idea who started the investigation and when it was started but the prime suspects have managed to escape! What is the point of NADRA if you cannot enforce exit control at the border for fugitives and suspects?

ID cards are also supposed to be under the control of the federal government.

Can anyone confirm that this was allowed to happen under the eye of president Shaukat Aziz--who supposedly is such an expert in banking? Or did it only start after he left office?

Bank of Punjab scam swells to Rs13 billion


The scam involved $180.6 million - file​

LAHORE: Another Rs4 billion have been found embezzled in the Bank of Punjab fraud, raising the total volume of the ‘biggest ever’ financial scam in Pakistan to Rs13 billion or $180.6 million.



A NAB officer told Dawn on Wednesday that the owners of three steel mills – Haris, Prime and Haider – had taken huge loans from the BoP with the connivance of its former head Hamesh Khan and other senior officers on the basis of fake identity cards.



The officer further informed Dawn that while Prime and Haider steel mills existed only on paper, Haris mills had only a small unit on Sheikhupura Road.



He said NAB had so far seized the bank accounts, properties and 22 luxury vehicles worth about Rs5 billion.

Hamesh Khan, the prime accused, had managed to escape the country in the last week of May this year while the other co-accused Seth Afzal, owner of the Haris Steel Mill, and his close associate Irfan Shaikh were also at large.



The NAB succeeded in arresting BoP's former general manager, country risk manager, regional manager and two managers. They have been held on judicial remand.



Punjab NAB director (investigation) Brig Farooq Hameed (retired) confirmed that Hamesh had escaped to the United Arab Emirates (UAE).



“We have come to know through the Personal Identification Secure and Comparison Evaluation System (PISCES) of the Federal Investigation Agency that Hamesh managed to leave the country on May 28 (this year) from the Peshawar airport,” he said and added that the bureau’s overseas wing would try to bring him back.



Mr Hameed said it was the `biggest ever’ scam in the country’s history and as the bureau had frozen the properties of some of the accused there were chances that they might enter into a plea bargain under the National Accountability Ordinance 1999.



NAB officials are disturbed over losing key accused – Hamesh Khan and Shaikh Irfan – as they believe that their arrest could have helped recover the looted amount.

 

[Cheetah786]

GRAB them and hang them no exceptions take all property and freeze all bank accounts regardless if its owned by grandma sheikh.

but unfortunately iam dreaming we all no nothing is going to happen as there is 1000s of so called companies in Pakistan and government refuses to open its eyes to get these b.a.s.t.e.r.d.s.

 

[maqsad]

GRAB them and hang them no exceptions take all property and freeze all bank accounts regardless if its owned by grandma sheikh.

but unfortunately iam dreaming we all no nothing is going to happen as there is 1000s of so called companies in Pakistan and government refuses to open its eyes to get these b.a.s.t.e.r.d.s.

You should be happy about this. In the US and EU we see newspapers and media spitting venom at Pakistan and calling it one of the most corrupt places in the world but look at this--while in the US trillions have been embezzled and covered up in the press the people of pakistan are actually going after banking fraud. Which one is more corrupt now? Which country is the one where the press and the govt is allowing looters to escape without even a word in the news?

And if you read the article the govt did grab all the property. About half of the loot has been recovered!