Sahiwal: (Right Now News) The Federal Investigation Agency (FIA) has arrested a bank officer from the Punjab Provincial Cooperative Bank on charges of embezzling gold jewelry. The operation was conducted over allegations of replacing gold jewelry worth millions with fake ones.

According to the FIA, the accused swapped the entrusted jewelry of bank customers with counterfeit items, causing a loss of 19.3 million rupees to the state treasury. Over 40 victims have come forward so far.

An FIA spokesperson stated that investigations are ongoing, and efforts are underway to arrest other accomplices. The case involves the bank manager, cashier, and other individuals.

The issue surfaced when customers complained about receiving fake jewelry instead of their original items upon loan repayment. The bank administration and FIA initiated an investigation.

It is noteworthy that initial estimates suggested a loss of 160 million rupees, which could rise to 500 million rupees. The FIA recently took over the case from Harappa police.