MULTAN: A banking court in Multan has sentenced former relationship manager of a private bank, Kamran Rafique, to a total of 21 years in prison along with fines in a major banking fraud case involving the embezzlement of Rs45 million.
The verdict was announced by Banking Court Judge Humaira Al-Zahra, who also ordered the recovery of embezzled amount from the assets of convicted individual. The successful prosecution of the case was made possible through an extensive investigation conducted by the Federal Investigation Agency (FIA), Multan Zone.
According to FIR No103/2025, the case was registered on the complaint of cluster manager of a private bank in Multan. During the investigation, FIA officials established that Kamran Rafique, while serving as relationship manager at the bank, fraudulently obtained the issuance of 24 bank guarantees in the name of a customer through forged applications.
Investigators found that the accused subsequently sold the bank guarantees in the market, causing a financial loss of approximately Rs45 million to the bank. The inquiry revealed that the fraudulent activity was carried out through deliberate misuse of his official position and manipulation of banking procedures.
After reviewing the evidence and finding the accused guilty, the court handed down multiple sentences under different provisions of the law. Kamran Rafique was sentenced to 10 years of rigorous imprisonment and fined Rs100,000 under Section 409 of the Pakistan Penal Code. He was also awarded four years of imprisonment and fined Rs50,000 under Section 420, four years of imprisonment and a fine of Rs50,000 under Section 468, and three years of imprisonment along with a fine of Rs50,000 under Section 471. The court further directed that the embezzled amount be recovered from assets of the convicted individual.
