LAHORE: A special court in Multan sentenced a former bank officer to 21 years of rigorous imprisonment and imposed a fine of Rs42 million after he was found guilty of embezzling the same amount through fraudulent and forged bank guarantees.
The case was brought before the Special Court (Offences in Banks) where the former relationship manager of a private bank’s Abdali Road branch was convicted under sections 420, 468, 471 and 409 of the PPC, as well as Section 5(2) of the Prevention of Corruption Act, 1947.
In addition to the custodial sentence, the court ordered a fine of Rs42 million. Failure to pay the fine would result in further imprisonment in accordance with the law.
The investigation revealed that the offender had siphoned Rs42 million while serving at the Multan branch, employing fake and forged guarantees to siphon funds and inflict significant financial damage.
Following the inquiry, the FIA registered an FIR and filed the case with the competent court. Assistant Director (Legal) Muhammad Junaid Joiya prosecuted the matter on behalf of the FIA Multan Zone, with assistance from Assistant Director (Legal) Imran Atta throughout the trial.
The FIA praised the conviction as a decisive victory in its campaign against financial crime and corruption.
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