Two booked for ‘defrauding’ Chinese investor

ISLAMABAD: The Federal Investigation Agency (FIA) has finally registered an FIR against two Pakistani businessmen on charges of defrauding a Chinese investor.

The FIR No 33/2023, registered by the FIA’s Commercial Banks Circle, follows an inquiry into the complaint lodged by Zhi Cheng Li. The FIR carries Sections 409, 420, 468, 471 and 109 of PPC.

Mr Zhi, who claims falling victim to deception by his Pakistani partners, has urged the FIA’s director general to take notice of his long-pending complaint against the suspects.

The Chinese investor holds 45 per cent shares in a company called M/s NASYS Intl Co (Pvt) Ltd, but his partners, in collusion with bank officials, allegedly fraudulently opened a company account using Mr Zhi’s forged signatures.

However, despite the relevant investigation officer having sealed the FIR and initiated a search for their arrest the suspects obtained pre-arrest bails.

Mr Zhi says the issue dates back to 2015 when China HBP secured a contract worth $178 million from OGDCL for the supply of processing gas units and allied facilities at the Nashpa oil field in Karak.

China HBP had the sole agency agreement with M/s NASYS International Limited (Hong Kong) for the Pakistani market, a company founded by Mr Zhi.

Upon discovering the fake account in 2017, Mr Zhi filed a complaint with the FIA. However, the matter remained unresolved before being closed in 2020. He requested the reopening of the inquiry.

Speaking to the media recently, Mr Zhi emphasised that since 2017, he has pursued his case to recover around $13m from his former Pakistani partners.