Bank staff secretly replace gold worth Rs790m with ‘fake gold’ In Karachi

A unique fraud has been discovered in Karachi, where staffers replaced the gold assets of citizens with fake gold in lockers. JS bank in Karachi lost Rs790 million in gold mortgaged against two of its branches in District East. Moreover, these revelations were discovered during an audit at a bank branch in the Gulistan-e-Johar area of Karachi.

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Furthermore, two cases have been registered with Sharae Faisal and Aziz Bhatti police stations. The 28 Bank customers mortgaged gold worth Rs550 million to acquire loans. Consequently, the FIR has nominated Branch Manager Farah Mansoor, Gold Finance Executive Adeel Lateef, Relationship Managers Daniyal, Safar Kalhaar, and Zulfiqar Junejo.

Source: Ary News