Islamabad, January 28,2026: Law enforcement authorities on Wednesday arrested three accused, Muhammad Mateen, Arshad Mehmood and Hammad Basharat, after the dismissal of their pre-arrest bail petitions by the SJC-II court in Islamabad in connection with a major pension fund embezzlement case.
The arrests were made in FIR No. 92/2025, registered on October 27, 2025, which includes charges under sections 34, 109, 420, 468 and 471 of the Pakistan Penal Code, read with Section 5(2)47 of the Prevention of Corruption Act, 1947
According to the FIR, the accused allegedly acted in connivance with one another to embezzle Rs46,165,330 from the Pension Bank Account of the SEC Management Pension Fund maintained at the First Women Bank Limited (FWBL), Blue Area Branch, Islamabad. The amount was reportedly siphoned off through ten fake and bogus bank cheques.
Investigators allege that the fraudulent transactions were carried out in a planned manner, causing substantial financial loss to the pension fund. Following the dismissal of their pre-arrest bail, the accused were taken into custody and shifted for further legal proceedings.
Officials confirmed that investigations are ongoing to determine the full scope of the alleged fraud and to identify whether any additional individuals or institutions were involved in the embezzlement.
