Wednesday February 28, 2024

FIA arrests Bhojanis in multibillion fraud case

June 09, 2021

KARACHI: The Federal Investigation Agency (FIA) has arrested Muhammad Rafiq Bhojani, his son Zain Abbas Bhojani and nephew Muzammil Bhojani after District Session Judge Karachi South here cancelled their pre- arrest bails in a criminal case of fraud of over 1 billion Pakistani Rupees.

On Tuesday afternoon, the District Session Judge held that the pre-arrest bail obtained by Rafiq Bhojani, Zain Abbas Bhojani and nephew Muzammil Bhojani on 28th April 2021 stood recalled. Subsequently the FIA arrested them in the high-profile fraud case.

The bails were cancelled in the case that was registered by the FIA over a complaint which was filed by Syed Tahir of Pak China Fertilizers Limited against Rafiq Bhojani and three others regarding illegal transfer of shares of M/s Pak China Fertilizers by fraudulent manner through electronic means by using fake electronic data, according to the FIA report. The fourth accused Ashfaq Ahmed, who was part of the fraud scheme, remains an absconder and FIA is looking for him.

The complainant’s lawyer Barrister Iftikhar Ahmed Shah said outside the court: “The FIA has investigated this matter through advance modern forensic methods, pointing all fingers towards the accused.”