LAHORE, July 3 (TNF): The Federal Investigation Agency’s (FIA) Corporate Crime Circle in Lahore has arrested a key suspect in a major financial fraud case involving millions of rupees. The fraud was allegedly carried out with the collusion of officials from the Securities and Exchange Commission of Pakistan (SECP).
According to an FIA spokesperson, the arrested man has been identified as Shehzada Alamgir. He was wanted in a high-profile case for illegally transferring 51 per cent ownership of a company—shares valued at several million rupees—into his name through forged documentation.
The arrest was made during a targeted raid in Lahore. Investigations have uncovered that Alamgir not only fabricated share transfer papers but also produced fake minutes of the company’s Annual General Meeting (AGM) regarding director elections. He went on to use a forged “Consent of Change” document to unlawfully remove the company’s chief executive officer. The FIA spokesperson added that this scheme was carried out with assistance from certain SECP officials.
Alamgir had long evaded capture and had been declared a proclaimed offender (PO). Following his arrest, the FIA has intensified its investigation and is continuing raids to apprehend other suspects linked to the conspiracy.
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