Hence, while fraudulently establishing a series of undisclosed bank accounts and deceitfully obtaining and embezzling investment funds under the pretense of the project, the management of CMPL/MSPL with criminal intentions and connivance of Meezan Bank officials namely Faisal Jamil Khan and Syed Ali Murad Naqvi and Silk Bank officials namely Shehryar Khalid, and Faisal Hameed opened and operated Bank accounts at Meezan Bank Shaheen Complex Kiyani Road branch Karachi, and Silk Bank Main Branch Karachi, respectively. The funds thus siphoned off were subsequently embezzled and misused for personal gains of the Directors and Ultimate Beneficial Owners (UBOs) of CMPL/MSPL/CMSPL.
Prima facie, the Directors and Ultimate Beneficial Owners (UBOs) of CMPL/MSPL/CMSPL namely Nasim Shehzad [POC: 70258-6811455-1; Singaporean Passport: E6334933H], Mohammad Omar Shehzad [POC: 70258-6100255-1], Nudrat Mand Khan [CNIC: 42000-0553910-5] and Muhammad Abdur Raheem [CNIC: 37405-3609042-7] with criminal intent and connivance of Silk Bank officials, GM(SAM) Shehryar Khalid [CNIC: 42501-6817549-9] and ROM Faisal Hameed [42101-7835120-9] and Meezan Bank officials namely OM Faisal Jamil Khan [CNIC: 42201-5058048-5] and BM Syed Ali Murad Naqvi [CNIC: 42501-3437036-9] have committed offences, u/sections 409, 34, 109 PPC. Moreover, the role of others involved, and beneficiaries (if any) shall be determined during the course of the investigation.
Singaporean Company Accused of Laundering Rs. 3 Billion from Pakistanis Showing them Dreams of their Homes