Police investigators find 'mastermind' of Rs750m bank gold scam
- By Salman Lodhi -
- Aug 11, 2021
KARACHI: The investigation officials have revealed that a ‘woman manager’ turned out to be a mastermind in the Rs750m gold scam at a private bank in Karachi, ARY News reported on Tuesday.
The investigators have found more clues while probing into a massive financial fraud at a Karachi private bank after they interrogated the suspects.
They revealed that a woman manager of the bank’s Gulistan-e-Johar branch who had allegedly acted as the mastermind of the gold scam distributed shares of the money earned from the financial frauds to the accused bank staffers.
READ: POLICE TEAM CONSTITUTED TO PROBE INTO RS750M GOLD SCAM AT KARACHI BANK
It was learnt that the staffers kept receiving expensive gifts from the fraudster lady, whereas, the investigators found Rs2,400,000 funds in the bank account of the bank’s gold finance executive Adeel. The executive had also gifted a car by the accused Adeel, they added.
The accused lady had also gifted expensive mobile phones to the bank employees and invested the ill-gotten money to the stock exchange, as well as purchased luxurious vehicles.
The officials said that the mastermind had also awarded ‘pocket money’ to the bank staffers in both branches. Police said that 14 arrests have been made in the Rs750 million bank gold scam case so far.
READ: MORE ARRESTS MADE IN KARACHI BANK’S RS750M GOLD SCAM CASE
Earlier on August 6, a unique financial fraud had been unearthed in Karachi as the staffers secretly replaced the gold assets of citizens with ‘fake gold’ in the lockers.
The revelations were made after the audit of a private bank’s branch in the Gulistan-e-Johar area of Karachi where the original gold assets of citizens to acquire loans were replaced with ‘fake gold’ by the bank staffers.
It emerged that the bank staffers at Gulistan-e-Johar acquired a loan worth Rs24 million by giving gold assets as a guarantee for a fake customer. Alongside acquiring the loan, the staffers had secretly replaced the original gold with the fake gold.