FIA On Way…

FIA gears up efforts against fraudster


By Jamil Khan | KARACHI


THE Crime Cell of the Federal Investigation Agency (FIA) has finally obtained permission from the Federal Interior Ministry and Banking Court to expand its investigation against Syed Faraz Hasan, a fraudster charged with embezzlement of around Rs 55 million.

Hassan, a resident of Karachi, had been working in a private money transfer firm’s branch located on Hamdan Street, Abu Dhabi, for the past six years and had reached the post of deputy manager at the branch. Over the past six months, Hassan, using a number of tactics, had swindled over Rs 55 million and disappeared from UAE just two days before Eid-ul-Fitr, submitting a seven-day leave application. He was living in Model Colony, Malir for the past two months and was apprehended by the FIA Crime Cell while on his way to the mosque for Eid-ul-Azha prayers last Tuesday. FIA Crime Cell Sub-Inspector told Daily Times that they had obtained permission from the Federal Interior Ministry, under Cr Pc 188, and from the Banking Court, under Cr Pc 1994, to further investigate the matter.

He said that the UAE government has provided the FIA with the details of transactions made by Hassan and his accomplices. “As he was the deputy manger of the branch and was trusted by the firm, the task became much easier for him. On various occasions, Hassan inserted an additional zero in the telegraphic transfer (TT) numbers, besides changing the names of beneficiaries, causing delays in the disbursement,” said the official.

He further mentioned that some of the transactions showed that Hassan had also directly withdrawn money from the accounts, transferring the money to his personal or his accomplices’ accounts set up in the UAE and Karachi.

Sources in the UAE told Daily Times that the firm had a chain of branches in the UAE, with their headquarters established in Abu Dhabi. According to the sources, an internal investigation against Hassan had already been launched a couple of months ago, as the firm had started receiving numerous complaints from customers.

– Published in Daily Times | Dec 16, 2008

~ by jamilkhan on December 16, 2008.

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