The area manager of a private bank branch in Faisalabad’s Madina Town has run away to the United States, along with Rs. 60 crore belonging to more than 500 account holders.
The accused, identified as Ammar Kayani, lured account holders with promises of additional profits over a span of four to five months. To further deceive them, he issued fake receipts on behalf of the bank, leading the unsuspecting clients to believe in the legitimacy of their investments.
As the months passed, the promised profits were distributed, building a sense of trust among the victims. However, their world came crashing down when Kayani suddenly disappeared without a trace. It has also come to light that he was involved in orchestrating similar schemes across eight different branches, with staff members from those branches also vanishing to various European countries.
Victims contacted the Federal Investigation Agency (FIA), which requested them to provide the necessary documents. In response, the affected bank clients have approached the bank’s authorities, who are currently in Faisalabad to assess the situation and examine the affected bank accounts.
In the coming days, the bank is expected to file an official application with the FIA, leading to the registration of a criminal case against the fugitive area manager and his accomplices. This incident serves as a grim reminder of the importance of vigilance and regulatory oversight in the financial sector.
Bank as an institution is not involved in such crime but bank manager and staff is involved. Customer can trust on a bank manager who signing official documents. It is not clear how he was paying profit to customer. If it was deposited in account supporting documents can be checked but if cash then customer are responsible too.
Didn’t “customers” asked for ATM cards, SMS alerts, online access?
The Manger wouldn’t have taken PKR notes out of Pak. Would have converted these to USD, would have transferred by official unofficial channel.
A very similar fraud was done by the branch manager of National Savings Centre in Karachi, many years ago. While the account holders were compensated by the NSC, but the regulators seem to have give no heed to such heinous acts and never raised their controls only to let others follow.
We keep noticing and reading such incidents. Back in 1998 a branch manager of a private bank managed to fle with three crore…in MURREE …. We are such a corrupt people that no other country compares us…
How can we prosper withgreed and as liars…
Why peoples pay him only bcoz they greedy and want speedy money. Many times this type of Fraud done by different people’s but unfortunately our public too laalchi and want Haram money. Now they suffer.
Good
Why you don’t mention name of the bank? The bank is also responsible because it hired such a person without proper checks, allowed him to operate for so long without proper supervision, and now is responsible for returning the amount to the account holders.
Bank Al Habib is the unfortunate bank.
Habib Bank o think
You think?? Either you know or you don’t. Only fools make false accusations.
Its bank al habib
Serves greedy rightly
It wasn’t greed.
They weren’t doing anything illegal. They didn’t loot anyone
It was their own money that they invested in hopes of making a few extra ruppees in this pathetic economy.
In these dire situations who wouldn’t wanna secure as much financial stability as they can
Can I ask how much is currently initial bribe to get a job in a bank
Fasilabadi …… what more
Its enough.
Cheater punjabi
Never hire a local person as Regional Head
in cities like Multan and Faisalabad. My suggestion to all the senior management of banks. It will solve 50% problems….
Bank’s head office & branch officers were sleeping? Bank name should have been mentioned. Ammazingly, he has done this earlier also. Wah . . . what a Bank.
Bank Al Habib customers lose billions of rupees to fraud in Faisalabad
Sources said that multiple branches of Bank Al Habib are involved in the fraud which saw hundreds of customers lose more than Rs5 billion.
They said that Area Manager Raja Ammar Kiyani fled to the United States after allegedly robbing over 500 customers of their money.
The sources said that some other staff members of the bank also vanished after the fraud was detected by authorities.
They said that the fraud involved parallel banking and the suspects somehow managed to give customers profits for months to attract more depositors
Punjabi. Cheaters as usual
It’s not about being punjabi. Every one is just waoting and would not back out to commit fraud when there is opportunity. Why as Muslims we have lost faith in Allah. These acts will lead to He’ll Fire at the end.
Syed likhny sy koi syed ho nhi jata. Wo ikhlaq or tehzeeb Syedo wali kaha sy lao gy?
It was in 2005 , when Islamic investment bank did fraud with many account holders and i m onof the affected. Nothing has been done in 20 years.
তোমাদের ম্যানেজার নিয়েছে মাত্র- ৬০ কোটি রুপি, সর্বোচ্চ ২১.৫০ কোটি BDT. আমাদের প্রশান্ত কুমার হালদার (পিকে হালদার) নিয়েছে- ৪,৫০০ কোটি BDT. তোমরা তো চুরিচামারিতেও আমাদের সাথে পারবা না!!
I think it is not possible, a single officer could not complete these types of corruption without any support of other officials, how it is possible a single officer took an huge amount without any information of other colleagues.