FIA arrests three in Rs46.1m pension fund embezzlement case

The Federal Investigation Agency (FIA) on Wednesday arrested three accused in a major operation related to the embezzlement of funds from the State Engineering Corporation Pension Fund.

According to the FIA, an alleged embezzlement of Rs46.1 million from the pension fund has been uncovered. The suspects were taken into custody after their pre-arrest bails were dismissed.

The arrested individuals have been identified as Muhammad Mateen, Arshad Mahmood and Hammad Basharat. Investigators said millions of rupees were withdrawn from the pension account through fake bank cheques, involving at least 10 bogus cheques.

A case has been registered against the accused under relevant provisions pertaining to corruption and forgery. The FIA stated that the suspects allegedly embezzled the funds through mutual collusion.

Further investigation into the case is underway, and officials indicated that additional facilitators involved in the scam are likely to be arrested.