Former CEO of Bank Alfalah Securities and husband of renowned Pakistani model Nadia Hussain, Atif Mohammad Khan, has been arrested for embezzling 540 million rupees.
According to reports, the FIA Corporate Crime Circle took action and arrested Atif Mohammad Khan on charges of financial embezzlement amounting to 540 million rupees.
He was arrested following an investigation based on a complaint filed by the Bank Alfalah Securities Board of Directors.
Reports state that the accused was involved in corporate financial fraud, misusing company funds for personal trading, amounting to 80 million rupees.
Additionally, he allegedly acquired 654 million rupees illegally through a third party and paid it back with high markups using company funds.
Former CFO Faisal Sheikh and Imtiaz Ahmed reportedly facilitated the fraud.