Illegal transfer of funds: Another case registered against Abraaj Capital’s Arif Naqvi

Legal complications increased further for the head of Abraaj Capital, Arif Naqvi and three others, after another case of fraud was registered against them.

The Federal Investigation Agency (FIA) on Wednesday said that a fresh first-information report (FIR) had been registered after they uncovered alleged illicit activity implicating Naqvi.

In the FIR, the investigation agency claimed to have detected that the Abaraj Group chief had allegedly transferred foreign aid received in the name of a welfare organization to his personal account worth around Rs9 billion.

With Naqvi linked to former prime minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan, an FIA investigation officer said that he may have to testify at some point.

Based on the FIR, the FIA is expected to seek an arrest warrant from permission from session judge for the arrest of Arif Naqvi.