FIA registers multi-billion rupee fraud case

KARACHI: The Federal Investigation Agency (FIA) has registered a criminal case of fraud of over Rs 1 billion against Muhammad Rafiq Bhojani, his son Zain Abbas Bhojani, Ashafq Ahmed and nephew Muzammil Bhojani.

The case has been registered at the Judicial Magistrate South-1 Karachi under Section 154 CrPC. The case has been registered after a complaint was filed by Syed Tahir of Pak China Fertilizers Limited against Rafiq Bhojani and three others regarding illegal transfer of shares of M/s Pak China Fertilizers by fraudulent manner through electronic means by using fake electronic data, according to the FIA report.

The FIA has confirmed that Bhojani led the criminal plot with help from Zain Abbas Bhojani and nephew Muzammil Bhojani. “During the course of enquiry, it has been established that accused Muhammad Rafiq Bhojani prepared fake Securities and Exchange Commission of Pakistan (SECP) profile of complaint Syed Tahir Hussain and manipulated fake long-in on complainant’s behalf for which the alleged Muhammad Rafiq Bhojani used his own cell phone for authentication and gave a email address and contact address as address of Khadim Jan i.e Suit No.12 and 13, 3rd floor, Deans Trade Centre, Peshawar.

“During the course of enquiry it has also been established that accused Rafiq Bhojani prepared fake registration letter of Hussain from his Directorship of M/s Pak China Fertilizers letter and fraudulently affixed fake thumb impression of Syed Amir Hussain on the said registration letter and submitted before the Securities and Exchange Commission of Pakistan.”

The FIA report adds: “The act of accused Mohammad Rafiq Bhojani, Zain Abbas, Ashfaq Ahmed, Muzammil Abbas Bhojani and others prima-facie constitutes offences punishable u/s 406/420/468/471/109 PPC r/w section 13 Prevention of Electronic Crime Act 2016. A case was registered against accused Muhammad Rafiq Bhojani, Zain Abbas, Ashfaq Ahmed and Muzammil Bhojani and others.” Rafiq Bhojani was employed as the manager of one of Pakistan’s leading business families based in Karachi.”

According to the original complaint filed with the FIA by the business group, Bhojani and his three associates conspired to illegally transfer their shareholding of Pak-China Fertilizers Limited Company. Bhojani collaborated with a prominent PML-N ex-MNA from Haripur, according to the complaint. The complaint alleged that Bhojani and his associates took illegal possession of fertilizer plant in Haripur by force and have been in control of the plant for three years now.

Pak-China Fertilizers Limited is owned by the Karachi business family which has filed the complaint. Between 2017-2018, Bhojani forged Securities Exchange Commission of Pakistan (SECP) profiles online, faked finger prints on transfer forms which NADRA has discovered belonged to his nephew, Muzammil Bhojani, and prepared fake board resolutions.

The dates of the Board resolutions, according to the FIA, are those when all shareholders were out of Pakistan whereas the resolution shows the Board Meeting was held in Pakistan. The Privatization Commission and Government of Pakistan have a claim on Pak China Fertilizer and there has been a stay order since 2007. Bhojani and his associates also tried to illegally sell scrap in violation of this order, according to details of the complaint.

On 25th of March 2021, the Deputy Commissioner Haripur imposed a ban on any illegal sale, purchase, sifting of immovable or movable assets, and scrap and tree sales from Pak China Fertilizers. Additionally on 9th of April 2021, a letter was written by Deputy Commissioner Haripur to Privatization Commission to file a contempt of court case against Rafiq Bhojani for his illegal activities. The main complainant, who is Chief Executive Officer of Pak China Fertilizers Limited, told the FIA in November 2019 that Bhojani was given access to all legal papers because he was trusted under oath.

“The board of directors of M/S Pak China Fertilizers Limited neither passed any board resolution for conversion of Company from offline to online nor passed any resolution in my favour or in favour of any other person thereby authorizing to submit documents before the Registrar of Companies, Companies Registration Office, Peshawar,” said the complainant in his initial complaint, adding that Bhojani “fraudulently impersonated” him for the fake takeover of shares.

Another report was filed with FIA Cyber Crime Wing against Bhojani by Murtuza Akbar Ali on a banking fraud case previously in 2018. A fraud investigation FIR has also been filed with Arambagh Police Station by Secretary of Pak China Fertilizers for theft of company documents and forgery.