KARACHI: The Federal Investigation Agency detained three Utility Store Company (USC) employees in connection with alleged corruption of more than Rs 22 million. Based on official documents, on 22 October 2020 (Thursday), FIA Corporate Crime Circle, Karachi, registered a case against seven employees of the Utility Stores Corporation, including Syed Danish Ali, s / o Syed Abu Thalib, ex-Store In-pay USC South, Territory Karachi, Pak Secretariat Shops, Ahmed Faraz, Zulfiqar Ali Soomro, Mansoor Ahmed Khan, Muneer Ahmed Khan, Shahid Murtaza, Naseem Afsar. According to the FIR registered under sections 409, 468, 471, 420, 109, 34 PPC read with 5 (2) PCA-II, 1947, the defendants with active intentions to each other misused Rs 22.2 million from USC, Saddar, Karachi.
FIA’s Corporate Crime Circle, Karachi, initiated an investigation into embezzlement of Rs. 22.2 million from two Utility Stores located at Pak Secretariat and Frere Road, Karachi.
Prima facie investigations found that on 18 October 2012, the actual initial balance of shares in USC, Pakistan Secretariat Store, Karachi, was Rs4,587,802. The defendant, Syed Danish Ali, was in charge of the shop, in connection with Zulfiqar Soomro, Junior Account Assistant, by destroying and falsifying records, falsifying an opening balance of Rs2,581,860 in the books. Defendant Danish Ali during the two years of posting received shares amounting to Rs80,837,283 and sold these shares for Rs56,983,045.
On this suspicion, the USC Headquarters, Islamabad, conducted a special audit of the Utility Store (Pakistan Secretariat), Karachi. It tracked the embezzlement of Rs 22.2 million during Syed Danish’s posting period.
A special audit also found an active relationship between Saeed Ahmed (late), Account Officer, Zulfiqar Soomro, Junior Accounts Assistant, Ahmed Faraz, Junior Account Assistant, who prepared fake and falsified documents in the accounts section, entered smaller amounts in the Inventory Control Ledger Account. Both internal auditors illegally concealed embezzlement and abuse to cover up the fraud.
Of the seven defendants, the FIA has arrested Syed Danish Ali, Ahmed Faraz and Zulfiqar Ali Soomro. FIA Inspector Ayub Mangrio will investigate the case. Deputy Director of FIA’s Corporate Crime Circle Rauf Shaikh told The News they are working on several corruption investigations at USC and soon cases will be registered and those responsible will be arrested.