{"id":68106,"date":"2025-03-15T13:42:32","date_gmt":"2025-03-15T08:42:32","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=68106"},"modified":"2025-03-15T22:27:28","modified_gmt":"2025-03-15T17:27:28","slug":"former-alfalah-securities-ceo-arrested-in-rs540-million-embezzlement-case","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/former-alfalah-securities-ceo-arrested-in-rs540-million-embezzlement-case\/","title":{"rendered":"Former Alfalah Securities CEO arrested in Rs540 million embezzlement case"},"content":{"rendered":"<p>KARACHI: The Federal Investigation Agency (FIA) Corporate Crime Circle Karachi has arrested Atif Mohammad Khan, former CEO of Al-Falah Securities, on charges of <a href=\"https:\/\/dailyausaf.com\/en\/showbiz\/fia-detains-nadia-hussain-husband-over-rs500-million-embezzlement\/\">embezzling<\/a> Rs 540 million.<\/p>\n<p>Atif Khan was taken into custody on March 8, 2025, following an extensive criminal inquiry.<\/p>\n<p>The investigation, initiated after a complaint by the Group Head of <span class=\"selectable-text copyable-text false\">Alfalah Securities<\/span>, revealed that Khan allegedly misused his position to commit criminal breach of trust, financial fraud, and forgery.<\/p>\n<div>\n<p>FIA investigation revealed that Khan, husband of model Nadia Hussain, allegedly misused 80 million rupees of company funds for personal trading.<\/p>\n<p>The accused also illegally acquired 654 million rupees through a third party, repaying it with high-interest payments using corporate funds.<\/p>\n<p>Former Chief Financial Officer Faisal Sheikh and another individual, Imtiaz Ahmed, were also accused of facilitating the fraud.<\/p>\n<p>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\u2019s release on bail.<\/p>\n<\/div>\n<div>\n<p>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).<\/p>\n<\/div>\n<div>\n<p dir=\"ltr\">The impersonator reportedly told her that all matters regarding her husband had been settled and urged her to transfer the money discreetly.<\/p>\n<\/div>\n<p>However, instead of reporting the incident, Nida Hussain took to social media, accusing FIA officials of misconduct and making baseless allegations.<\/p>\n<p>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.<\/p>\n<p>&#8220;No individual can be allowed to make baseless propaganda without proof and evidence,&#8221; the FIA spokesperson said in a statement.<\/p>\n<p>Citizens are informed to immediately contact the relevant institution in case of any suspicious call or contact, it added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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, [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":68151,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[27189,27191],"class_list":["post-68106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-alfalah-securities","tag-atif-mohammad-khan"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/68106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=68106"}],"version-history":[{"count":4,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/68106\/revisions"}],"predecessor-version":[{"id":68150,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/68106\/revisions\/68150"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/68151"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=68106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=68106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=68106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}