Ghulam Muhammad, alleged to be involved in stealing more than three crores in banking fraud, has been arrested from Karachi.
The Commercial Banking Circle of the Federal Investigation Agency (FIA) conducted a raid to arrest Ghulam Muhammad.
— Federal Investigation Agency – FIA (@FIA_Agency) January 12, 2024
According to Director FIA Karachi Zone Zaeem Iqbal, the suspect was posted as a cashier in the branch of a private bank located in Sadar area of Karachi.
He has been accused of embezzling a total of three crore, 29 lakh and 78 thousand rupees by issuing, without permission, fake cash transits to various branches under the guise of excess cash.
According to the initial investigation, no request for cash was received from the above branches, while the suspect did not hand over the said amount to the van used for cash transit after making cash entries last year in May, June and July.
As per FIA, the suspect had fled after cheating. After his arrest, raids are being conducted to apprehend others from the group.
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