Pakistani Businessmen Allegedly Caught Scamming Chinese Investor

The Federal Investigation Agency (FIA) has registered an FIR against Pakistani businessmen for allegedly defrauding a Chinese investor.

The FIR No. 33/2023, registered by the FIA’s Commercial Banks Circle, was registered after a concluding inquiry into the complaint of Chinese national Zhi Cheng Li. The FIR carries sections 409, 420, 468, 471, and 109 of the Pakistan Penal Code.

A Chinese investor, Zhi Cheng Li (Alias Donald), who was deceived by his Pakistani partners, had requested the Director General of FIA take notice of his complaint against his Pakistani partners, pending in FIA for several years.

The FIR states that Cheng Li (Donald) owns 45 percent shares in a company namely M/s NASYS Intl Co (Pvt) ltd. Along with two other partners namely Malik Naveed Asghar and Malik Rehan, shareholders 45 percent and 10 percent respectively.

Naveed and Rehan fraudulently and dishonestly, in active connivance with the bank officials namely Haris Khan opened company accounts in two private banks with the fake and forged signatures of the complainant Zhi Cheng li.

First bank Account No 1-4-6-20311-714-114447 of M/s NASYS Intl Co (Pvt) ltd. was opened by Malik Naveed Asghar and Malik Rehan on August 20, 2015, in a private bank, F-11 branch, Islamabad by using Zhi Cheng Li’s fake and forged signatures in connivance with Haris Khan, Business Development Officer of the bank with a total credit turnover of Rs. 7,675,000 and total debit turnover of Rs. 7,655,936.

Afterward, accused Malik Naveed Asghar and Malik Rehan opened a second bank account in another bank using the complainant’s fake and forged signatures in connivance with Haris Khan, who was then working as BDO at a private bank with a total credit turnover of Rs. 11,320,500 and total debt turnover of Rs. 9,438,965. At the time of opening of these alleged bank accounts, complainant Zhi Cheng Li was not in Pakistan, states the FIR.

Additionally, the FIR mentioned a few other parallel bank accounts which with the active connivance of Harish Khan, Naveed, and Rehan opened fraudulently and dishonestly in the name of NASYS International, having credit and debt turnover of hundreds of millions of rupees.

Prima facie, read the FIR, this act of the accused persons constitutes the offense of cheating, fraud, and criminal breach of trust. Therefore, a case FIR u/s 409, 420, 468, 471 r/w 109 PPC is being registered against Haris Khan, Malik Naveed, and Malik Rehan. The role of any other, if found involved, will be determined during the course of an investigation, added the FIR.

However, despite the relevant Investigation Officer having sealed the FIR and searching for the arrests of the accused, Naveed and Rehan were able to secure the pre-arrest bail.

In his complaint, Li mentioned that the issue traces back to 2015 when China HBP won a contract worth $178 million from the OGDCL for the supply of processing gas units, an LPG recovery plant, and allied facilities at the Nashpa oil field located in district Karak of Khyber Pakhtunkhwa. The China HBP had a sole agency agreement with M/s NASYS International Limited (Hong Kong) for the Pakistani market, a company founded by Mr. Zhicheng Li.

In order to execute the project, Li, along with Pakistanis Naveed Asghar and Rehan Azam, established a local company, M/s NASYS International Co. (Pvt.) Limited, with Li Donald at 45 percent, Naveed at 45 percent, and Rehan at 10 percent.

After knowing the situation in October 2017, Li filed a complaint with the FIA, which was held for over three years and closed in 2020. He requested reopening the inquiry and provided all facts to the new investigation officer.

From 2017 till now, said Zhicheng Li, he has approached all the possible legal forums including regulators and investigating authorities whether that was the Court, SECP, FIA, or NAB but all in vain; not to mention that the Chinese Embassy is well aware of my case and is expecting for the justice as well.