Faisalabad: The police have arrested an employee on alleged charges of embezzling Rs28.5 million from Sitara Chemical Industries after selling company’s products.
Police spokesman said here on Tuesday that Civil Lines police arrested the accused Shoaib after a complaint regarding the alleged misappropriation of a substantial amount belonging to the chemical company.
The accused had allegedly sold products of Sitara Chemical Industries and subsequently misappropriated proceeds amounting to Rs28.5 million, he added.
He said that SHO Civil Lines police station Atiq-ur-Rehman led the action that resulted in the arrest of the accused.
The police have initiated further legal proceedings against the accused and investigation into the alleged financial irregularities to determine the circumstances surrounding the transaction and recovery of the embezzled amount.
Further action would be taken in accordance with the findings of the investigation and relevant law, he added.
