The Federal Investigation Agency on Sunday arrested Mumtaz Hasan, founder of the Hascol Petroleum Limited, as part of its investigation in the Rs54 billion worth of scam.
“The FIA Commercial Banking Circle has registered a case against 30 suspects – including former and current officers of the National Bank of Pakistan and Hascol – and one suspect has been arrested after pieces of evidence came to light in an inquiry into bank default, financial fraud and money laundering of more than Rs54 billion by the Hascol Petroleum Company,” read a statement, which is available with Aaj News, issued on Sunday.
The agency added that further raids are being carried out to arrest other suspects.
On the directives of FIA Sindh Zone Director Amir Farooqi, it read, the agency registered a case against the accused persons under the clauses 409/420/468/471/477-A/109 Pakistan Penal Code r/w 5(2) of Prevention of Corruption Act 1947 r/w 3/4 Anti-Money Laundering Act 2010 amended in 202
The FIA said the case was registered after getting proof and pieces of evidence in the investigation in the country’s “biggest financial fraud.”
As a whole, officials from Hascol Petroleum and partner companies – including Vitol, Fossil Energy and the colluding NBP – are named in the case.
“Syed Ahmed Iqbal, Saeed Ahmed, Syed Jamal Baqir, Akbar Hasan Khan, Syed Hasan Irtaza Kazmi, Reema Athar, Muhammad Saleem Salemi, Wajahat A Baqai, Usama Ghazi, Nabeel Zahoor, Hidayat Shar, Tariq…
