Atif Mohammad Khan, the husband of renowned model and actress Nadia Hussain and the former CEO of Bank Alfalah Securities, has been detained on charges of embezzling 540 million rupees.
The Federal Investigation Agency (FIA) announced his detention following an investigation prompted by a complaint from the company’s board of directors.
According to police, Model Nadia Hussain’s husband, Atif Khan, reportedly abused 80 million rupees of business money for personal trade and fraudulently acquired 654 million rupees through a third party, repaying it with high-interest payments from corporate funds.
The FIA also charged former Chief Financial Officer Faisal Sheikh and another man, Imtiaz Ahmed, with assisting the fraud. Authorities added that more investigations are underway.
