Parker Russel appointed to investigate Hascol’s fraud

MG News | January 24, 2022 at 01:43 PM GMT+05:00

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January 24, 2022 (MLN): The management of Hascol Petroleum Limited (PSX: HASCOL) has informed the exchange on Monday that the Securities & Exchange Commission of Pakistan (SECP) has appointed Parker Russel AJS, Chartered Accountants as investigators for carrying out serious fraud investigation / forensic audit of the company.

As per the news reports, the Federal Investigation Agency (FIA) has arrested Mumtaz Hasan, founder of the Hascol Petroleum Limited (HPL), in Rs54 billion scam.
A total of 30 suspects including present and former top officials of the National Bank of Pakistan (NBP), HPL and other organizations have been involved in a scam and efforts are being made to arrest them, the FIA's document said.

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