Govt Officer’s Wife Refuses to Cooperate in Multi-Billion Rupee Scam

The spouse of a powerful DMG officer posted in Punjab has declined to cooperate with Federal Investigating Agency (FIA) regarding misappropriation of billions of rupees involving public money of an attached department of the Cabinet Division.

A District Coordination Officer (DCO) in Okara, who is the spouse of a powerful DMG officer and a favorite officer of the Chief Minister Punjab, has declined to reply the FIA regarding misappropriation of Rs. 1.925 billion from the accounts of Abandoned Property Organization (APO) of the Cabinet Division while using two commercial banks – NBP and HBL, said an inquiry officer of the FIA.

FIA Karachi has identified the properties in the name of the main accused for the APO’s misappropriation – late Rafiq Qureshi from Okara district. The DCO in the district is cooperating with the FIA in seizure of the purchased prosperities, he further added.

According to an FIA report submitted to the National Assembly Standing Committee on Finance,

On the complaint of Administrator of APO, an investigation was carried out at NBP and HBL by their separate Internal Audit departments wherein misappropriation of Rs 1.544 billion was initially identified in the APO’s IPS account maintained at NBP.

According to the investigation report, four APO officials in connivance with Ms Saddaf Siddiqui, NBP and Treasury Dealer, Shariq Ali (husband of Sadaf Siddiqui) and Nizamuddin Khan Khusro alias Khusro Rashid, Area Manager HBL, misappropriated funds of APO from April 2014 to Oct 2016.

Ms Sadaf Siddiqui facilitated in siphoning of the amount by selling GoP securities to APO at inflated prices, purchasing T bills with differential amounts and then prematurely selling those T bills and transferring the sale proceeds to 11 fraudulent accounts at different branches of HBL with the majority of the funding credited in the abbreviated account of APO Builders & Contractors.

Subsequently, the funds were withdrawn either in cash or through transfer of funds. Most of the funds were utilized for the purchase of properties.

As per FIA’s report, they have identified 47 properties in suspects’ names, which were allegedly purchased by the accused persons from the proceeds of the misappropriation money. Besides these properties, Ms Sadaf Siddiqui also voluntarily deposited an amount of Rs. 265 million in the account.

On the direction of FIA, NBP has also seized an investment amount of Rs. 28 million.

Habib Bank Limited (HBL) has also taken disciplinary actions against 36 of its officers, including mid-level management staff, the report concludes.

        • May be he knew well, here in our country every one is corrupt. It’s just about a time and chance they need.

          • Thanks, brother!
            My father spent half of his life aboard and he had been in countries like Dubai, Hong Kong, Bangladesh, Thailand, Malaysia and Singapore and he’d often laugh and say that I’ve met dozens of people from dozens of countries, but I’ve yet to find a foreigner who’d beat a Pakistani when it comes to lying, cheating, deceiving and backstabbing!
            But of course, it’s just a stereotype, for the most part! There are good people here who earn an honest living and lead an honest life.
            Good Day!

            • Dear,

              I second it, I am an overseas Pakistani, I lost millions doing business with Pakistanis…lying, cheating, so many faces, tugs we have within us. But I can tell you each and every person who did this with me lost everything they had. This is not because I am “wali-ullah” but only because I have a strong believe that if you do wrong with someone it will haunt you and will happen with you.

              If someone does a money fraud with you, do your level best to get it back but at the same time DO NOT spare that person, make him an example, at least by telling everyone about that person if you can not do more.

              P.S. Dubai isn’t a country, its UAE :p

    • This post says “Favorite of CM Punjab”

      without citing any proof how and why this officer be considered favorite of CM Punjab. This is so shameful that such statements are made with political motives, without giving any reference whatsoever.

      ARY inspired writing.

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