FIA books businessmen for ‘defrauding’ Chinese investor

October 02, 2023

ISLAMABAD: The Federal Investigation Agency (FIA) has registered an FIR against the Pakistani businessmen for defrauding a Chinese investor.

The News published a story on September 6 titled “Justice eludes Chinese investor ‘defrauded’ of $13m.” The News highlighted the issue of a Chinese investor, Zhi Cheng Li (Alias Donald), who was allegedly deceived by his Pakistani partners and despite passage of almost seven years he was unable to get an FIR registered with the FIA. Finally, the FIA registered an FIR No. 33/2023, registered by the agency’s Commercial Banks Circle after concluding the inquiry into the complaint of Chinese national Zhi Cheng Li. The FIR carries sections 409, 420, 468, 471, and 109 of the Pakistan Penal Code. The FIR, available with this scribe, states that Mr. Cheng Li (Donald) owns 45 per cent shares in a company along with two other partners namely Malik Naveed Asghar and Malik Rehan, shareholders 45 percent and 10 per cent respectively.

The FIR states that Naveed and Rehan fraudulently and dishonestly, in active connivance with the bank officials opened company accounts in two banks with the fake and forged signatures of the complainant Zhi Cheng li. First bank Account No 1-4-6-20311-714-114447 of the company was opened by Malik Naveed Asghar and Malik Rehan on August 20, 2015 in an Islamabad’s F-11 branch of a bank by using Zhi Cheng Li’s fake and forged signatures in connivance with Haris Khan, business development Officer of the bank, with a total credit turnover of Rs76,75,000 and total debit turnover of Rs76,55936. Afterwards, accused Naveed and Rehan opened a second bank account in another bank using complainant fake and forged signatures in connivance with Haris, who was then working as BDO at another bank with a total credit turnover of Rs11,320,500 and total debt turnover of Rs9,438,965. At the time of opening of these alleged bank accounts, complainant Zhi Cheng Li was not in Pakistan, states the FIR. Additionally, the FIR mentioned a few other parallel bank accounts which with active connivance of Haris, Naveed and Rehan were opened fraudulently in the name of the company, having credit and debt turnover of hundreds of millions of rupees.

Prima facie, reads the FIR, this act of the accused persons constitutes the offence of cheating, fraud and criminal breach of trust. Therefore, a case FIR u/s 409, 420, 468, 471 r/w 109 PPC is being registered against Haris Khan, Malik Naveed and malik Rehan. The role of any other, if found involved, will be determined during the course of an investigation, added the FIR. The relevant investigation officer has sealed the FIR and started attempts for arresting the accused. It is learnt Naveed and Rehan have secured pre-arrest bails.