The Federal Investigation Agency (FIA) has arrested a key accused in a pension fund fraud involving more than Rs46 million after a court cancelled his pre-arrest bail.
Officials said the FIA Anti-Corruption Circle, Islamabad, took Talha Rasool into custody following the dismissal of his bail plea by the Special Judge Central-II. The case relates to alleged embezzlement from the State Engineering Corporation (SEC) Management Pension Fund.
According to the FIA, initial investigations indicate that the accused, in collusion with other nominated suspects, siphoned off funds from the pension account through forged bank cheques and fake signatures. The fraudulent transactions were allegedly carried out at a private bank’s Blue Area branch, resulting in the misappropriation of Rs46,153,330.
The case was registered after the FIA received a complaint regarding irregular withdrawals from the SEC pension fund. Following the court order, the agency moved to arrest the suspect and initiated further investigation.
Officials said efforts are underway to trace the money trail and identify additional beneficiaries, while raids are being conducted to apprehend other co-accused named in the case.
The FIA said it will pursue the investigation to its conclusion and take legal action against all individuals found involved in the pension fund fraud.
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