FIA arrests Bhojanis in billion-rupee fraud case

The Federal Investigation Agency (FIA) has arrested Muhammad Rafiq Bhojani, his son Zain Abbas Bhojani, and nephew Muzammil Bhojani after District and Session Judge Karachi South cancelled their pre-arrest bails in a criminal case of fraud of over Rs1 billion.

On Tuesday afternoon, the District and Session Judge held that the pre-arrest bail obtained by Rafiq, Zain Abbas, and Muzammil on 28 April 2021 stood recalled. Subsequently, the FIA arrested them in the high-profile fraud case.

The bails were cancelled in the case that was registered by the FIA over a complaint 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 fourth accused, Ashfaq Ahmed, who was part of the fraud scheme, remains an absconder.

“The FIA has investigated this matter through advance modern forensic methods, pointing all fingers towards the accused," said the complainant’s lawyer, Barrister Iftikhar Ahmed Shah, outside the court.

The FIA told the court that it registered the criminal case after a thorough investigation in which it was established that Rafiq Bhojani led the criminal plot with help from Zain Abbas Bhojani and nephew Muzammil Bhojani.

The FIA said in the report, “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 complainant Syed Tahir Hussain and manipulated fake log-in on the complainant’s behalf for which the alleged Muhammad Rafiq Bhojani used his own cell phone for authentication and gave a fraudulently created 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 Mr 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 added: “The act of accused Mohammad Rafiq Bhojani, Zain Abbas, Ashfaq Ahmed, Muzammil Abbas Bhojani and others prima-facie constitutes the commission of offences punishable u/s 406/420/468/471/109 PPC r/w section 13 Prevention of Electronic Crime Act 2016. Hence, under the order of competent authority the case is registered against accused Muhammad Rafiq Bhojani, Zain Abbas, Ashfaq Ahmed and Muzammil Bhojani and others.”

According to details of the FIR available with this publication, Rafiq Bhojani is employed as the manager of one of Pakistan’s leading business family based in Karachi.

In the first and original FIR filed with the FIA by the business group, Rafiq Bhojani and his three associates conspired to illegally transfer their shareholding of Pak-China Fertilizers Limited Company.

Rafiq Bhojani collaborated with a prominent ex-MNA from Haripur, Babar Nawaz, according to the complaint.

The complaint alleged that Rafiq Bhojani and his associates took illegal possession of the fertiliser plant of the business group in Haripur by force and have been in control of the plant for three years now.

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

The dates of the Board resolutions, according to the FIA, represent dates where all shareholders were out of Pakistan whereas in 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. Rafiq Bhojani and his associates also tried to illegally sell scrap in violation of this order, according to details of the complainant .

The main complainant, who is Chief Executive Officer of Pak China Fertilizers Limited, told the FIA in November 2019 that Rafiq was given access to all kinds of 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 Rafiq “fraudulently impersonated” him for the fake takeover of shares.

Another report was filed with FIA Cyber Crime Wing against Rafiq by Murtaza 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.