Former CEO of Bank Alfalah Securities and husband of famous Pakistani model Nadia Hussain, Atif Muhammad Khan, has been arrested on charges of embezzlement of Rs 540 million.
According to the report, the FIA Corporate Crime Circle took action and arrested former CEO Bank Alfalah Securities Atif Muhammad Khan on charges of embezzlement of Rs 540 million.
The husband of famous model Nadia Hussain was arrested after an investigation on a complaint from the Bank Alfalah Securities Board of Directors.
According to the report, the accused is involved in embezzlement of company funds through corporate financial fraud. The accused used company funds worth Rs 80 million for personal trading.
According to the report, the accused illegally acquired Rs 654 million through a third party and paid them with a high markup from the company funds. The accused was facilitated in the fraud by former CFO Faisal Sheikh and Imtiaz Ahmed.
