Rs200m UBL fraud allegations rock Sahiwal, manager missing

LAHORE: Allegations of a financial fraud exceeding Rs200 million have surfaced at a UBL Ameen branch in Sahiwal, where several customers claim that their savings were siphoned off through fraudulent banking transactions, fake deposit slips and misuse of biometric verification.

The affected customers have approached the Federal Investigation Agency (FIA), the State Bank of Pakistan (SBP) and other banking authorities, seeking an investigation, recovery of their funds and action against those responsible.

The complaints reportedly name Rana Naveed Ahmad, who served as branch manager at the UBL Ameen branch at Five Way Chowk, along with two account holders, Qamar-uz-Zaman and Shaista Qamar. The branch manager is reportedly untraceable, according to the complainants.

One of the complainants, Muhammad Ramadan Kashif, a Sahiwal resident associated with the construction sector, has alleged that he suffered a loss of around Rs12.13 million in transactions linked to the branch.

According to his complaint submitted to the FIA, the alleged fraud began when the branch manager persuaded him to close an existing account and open another, reportedly citing the bank’s targets. The complainant alleges that he was subsequently asked to complete biometric verification on the assurance that Rs3.562 million would be transferred from his account to his son’s account.

The complainant claims that instead of the promised transfer, the money was allegedly moved to a joint account held by Qamar-uz-Zaman and Shaista Qamar. He further alleges that forged signatures were used and that he was provided with a fraudulent deposit slip.

In another alleged incident, the complainant says he deposited Rs8.568 million in cash at the branch in the presence of witnesses. According to his account, the cash was received and counted by staff, but the amount was never reflected in his bank account. He claims the branch manager later sent what appeared to be a receipt on plain paper through WhatsApp.

When the customer allegedly demanded the return of his money, the branch manager reportedly issued two cheques drawn on his personal Meezan Bank account. The complainant says both cheques were dishonoured when presented for payment.

The allegations have prompted concerns among other customers in Sahiwal, with several individuals reportedly coming forward claiming that they too may have lost substantial amounts. Among those identified by the complainants are Manzoor Fatima and Ahad Butt, while other affected citizens are also said to have contacted the authorities.

The complainants have urged the authorities to conduct a transparent investigation, trace the missing funds and ensure their recovery. They have also called for the accused to be placed on the Exit Control List and for action against any bank officials found to have facilitated or overlooked irregularities.

The FIA’s Sahiwal office has reportedly acknowledged receipt of the complaint and informed the complainants that an inquiry has been initiated.

The allegations have raised questions about internal controls, biometric verification procedures and oversight mechanisms at bank branches. The complainants maintain that their lifetime savings are at stake and are seeking urgent intervention from the relevant authorities.

The Minute Mirror has contacted UBL Corporate Communications for the bank’s official response to the allegations. Its position will be incorporated if and when received.

All allegations in this report are based on complaints and statements provided by the alleged victims. The accused persons are presumed innocent unless proven guilty by a court of law.