Lahore-January 24 (Online): The Federal Investigation Agency (FIA) has arrested Mumtaz Hasan founder of Hascol Petroleum in an alleged scam of Rs54 billion.
According to media report, FIA have filed cases against 30 accused including former and current officers of National Bank and Hascol Petroleum.
According to FIA spokespersons, accused took loans from national financial institution and they were also involved in money laundering.
In the case two former presidents of National Bank are also named.
Sindh FIA Director Amir Farooqi said that National Bank funded projects of Hascol Petroleum from 2015 to 2020. All rules and regulations were ignored. “In this fraud, private banks are also named with National Bank. It is the default of Rs54 billion collectively,” he added.
Amir Farooqi said that National Bank Credit Head Reema Azhar and Irtaza Kazmi have a key role in fraud.
Follow the PNI Facebook page for the latest news and updates.
