KARACHI: The Federal Investigation Agency (FIA) Corporate Crime Circle Karachi has arrested Atif Mohammad Khan, former CEO of Al-Falah Securities, on charges of embezzling Rs 540 million.
Atif Khan was taken into custody on March 8, 2025, following an extensive criminal inquiry.
The investigation, initiated after a complaint by the Group Head of Alfalah Securities, revealed that Khan allegedly misused his position to commit criminal breach of trust, financial fraud, and forgery.
FIA investigation revealed that Khan, husband of model Nadia Hussain, allegedly misused 80 million rupees of company funds for personal trading.
The accused also illegally acquired 654 million rupees through a third party, repaying it with high-interest payments using corporate funds.
Former Chief Financial Officer Faisal Sheikh and another individual, Imtiaz Ahmed, were also accused of facilitating the fraud.
Following the arrest of Atif Muhammad Khan, his wife Nadia Hussain was called on WhatsApp by a fraudster, impersonating a senior FIA officer, demanding a bribe of Rs30 million in exchange for her husband’s release on bail.
Upon verifying the call with FIA Karachi, she was informed that it was a hoax and was advised to report the incident to the Cyber Crime Reporting Centre (CCRC).
The impersonator reportedly told her that all matters regarding her husband had been settled and urged her to transfer the money discreetly.
However, instead of reporting the incident, Nida Hussain took to social media, accusing FIA officials of misconduct and making baseless allegations.
As a result, FIA Cyber Crime Karachi has launched an inquiry against her under the Prevention of Electronic Crimes Act (PECA), which is expected to proceed on legal merit.
“No individual can be allowed to make baseless propaganda without proof and evidence,” the FIA spokesperson said in a statement.
Citizens are informed to immediately contact the relevant institution in case of any suspicious call or contact, it added.
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