Police action saved financial fraud: KARACHI: Five exclusive financial institutions have been saved from facing financial fraud well worth over Rs800 million complying with the punctual action of Malir’s Container Qasim authorities.
Police officials have revealed the fact behind an alleged rice burglary which might offer a monetary damage worth over Rs800 million to 5 private financial institutions after giving financing against the pledge to the mill proprietor.
Senior Superintendent Police (SSP) Malir Irfan Bahadur told the media that the stocks of rice worth countless rupees have been recovered. He described that a mill proprietor Nand Lal had acquired a pledge finance from five exclusive financial institutions against the stocks of rice kept in the go-down.
The charged has actually maintained transferring the rice supplies to various other go-downs from March 27 to 29, utilizing thousands of vehicles to change sacks of rice. On the other hand, the individuals designated by the banks were asked to take place leave, said the police officer.
Bahadur said that the financial institutions signed up five situations of rice burglary with the police. The prime suspicious Nand Lal devoted the theft and also economic scams with the help of his aide Akash Kumar.
SSP Malir stated that both charged have actually absconded purportedly after the crime and also raids are being performed to arrest them.