The Federal Investigation Agency (FIA) has arrested Muhammad RafiqBhojani, his son Zain Abbas Bhojani and nephew MuzammilBhojani after District Session Judge Karachi South here cancelled their pre- arrest bails in a criminal case of fraud of over 1 billion Pakistani Rupees.
On Tuesday afternoon, the District Session Judge held that the pre-arrest bail obtained by RafiqBhojani, Zain Abbas Bhojani and nephew MuzammilBhojani on 28th April 2021 stood recalled. Subsequently the FIA arrested them in the high-profile fraud case.
The bails were cancelled in the case that was registered by the FIA over a complaint which was filed by Syed Tahir of Pak China Fertilizers Limited against RafiqBhojani and three others regarding illegal transfer of shares of M/s Pak China Fertilizers by fraudulent manner through electronic means by using fake electronic data, according to the FIA report.
The fourth accused Ashfaq Ahmed, who was part of the fraud scheme, remains an absconder and FIA is looking for him.
The FIA told the court that it registered the criminal case after a thorough investigation in which it was established that MrBhojani led the criminal plot with help from Zain Abbas Bhojani and nephew MuzammilBhojani.
The FIA said in the report: “During the course of enquiry, it has been established that accused Muhammad RafiqBhojani prepared fake Securities and Exchange Commission of Pakistan (SECP) profile of complainant Syed Tahir Hussain and manipulated fake long-in on complainant’s behalf for which the alleged Muhammad RafiqBhojani used his own cell phone for authentication and gave a fraudulently created email address and contact address as address of Khadim Jan i.e Suit No.12 and 13, 3rd floor, deans Trade Centre, Peshawar.