HBL Pakistan’s mega fraud unearthed: Overseas Pakistanis on the hit list

HBL Pakistan’s mega fraud unearthed: Overseas Pakistanis on the hit list

ISLAMABAD: A mega financial scandal of Habib Bank Limited Pakistan (HBL) has been unearthed as multiple complaints were received against the bank and most of them came from overseas Pakistanis, who began to fall prey to HBL’s alleged fraud.

The National Accountability Bureau (NAB) in Azad Kashmir has piled up more than 50 complaints against the alleged financial manipulation of Habib Bank Limited in Azad Jammu and Kashmir (AJK). The cases reflect serious concerns and financial irregularities done by HBL Bank.

Taking evidence into consideration, the Accountability Bureau has indicted the officers involved in the fraud, however, the bank has remained silent on the matter. The State Bank of Pakistan and the Ministry of Finance have also not responded to this serious financial fraud and remain silent spectators to the reported fraud of Habib Bank Limited (HBL).

As per available details by sources privy to the information, HBL officers were found guilty in more than 29 cases filed by the National Accountability Bureau. The management and employees of Habib Bank are reported to have manipulated things for their personal gains and diced bank customers.

According to the documented evidence available with Daily Ausaf/ABN News, involved officers of HBL have embezzled more than Rs 5 crore 50 lac in these cases. In most cases, fraudulent withdrawals and loan files were signed by the account holder.