KARACHI: The Federal Investigation Agency (FIA), Corporate Crime Circle, arrested on Saturday the former DG Finance of the EOBI for incurring a loss of millions of rupees in connivance with the AKD Securities and the EOBI.
An FIA spokesman said a case 2015/27 was registered and CEO of AKD was among directors who were arrested. Later, investigations were started. FIA has arrested nominated accused in the case former DG finance EOBI Imtiaz Ahmed and started investigation.
Sources in the FIA said Imtiaz Ahmad was working as Additional Commissioner FBR, but was arrested in the EOBI case.
The sources said the accused Mirza Imtiaz Ahmad had also been working as member of the investment committees of the EOBI and was also a close associate of Zafar Gondal, an already arrested accused in the case.
It is pertinent to mention that three directors of the AKD, along with its CEO, are already arrested, while raids were being made to arrest the others.
The FIA sources said it is also being probed as to how Amtex Company managed to get enlisted in the stock exchange despite being defaulter of the Bank of Punjab to the tune of billions of rupees. Sources said the Lead Manager of the Amtex Company and Book Runner is also the AKD Securities, which used their influence and thus got a defaulter company enlisted in the stock exchange.