KARACHI: Important revelations have transpired regarding the alleged mastermind in the JS Bank fraud case in Karachi.

The prime suspect, a female bank officer has confessed that she used to give reasonable share to other employees involved in the case of replacing gold with artificial jewellery at two branches of the bank.

Investigators claimed that the bank employees kept taking valuable gifts from the woman, while it was also revealed that Rs 2.4 million was present in bank account of the arrested 24-year-old man.

Also Read: Six bank employees arrested for stealing gold in Karachi

The accused had given a car as a gift to the Gold Finance Executive of the bank while the arrested woman manager of Gulistan-e-Johar branch was also given the plot as a gift which was taken back a few days later. The suspect also gifted valuable mobile phones worth Rs 2 to 3 lakh to the bank employees.

According to the investigators, the accused invested a large amount of the money in stock exchange and also bought expensive vehicles with the money obtained from the bank. The alleged mastermind also paid some out-of-pocket expenses to the staff at the branches.

Police said they had so far arrested 14 people embroiled in the bank fraud case.

On Aug 6, six bank employees had been arrested for stealing the gold kept as mortgage at a bank in Karachi.

According to details, staff members of a private bank had looted gold jewellery from lockers which were mortgaged in exchange for loan of Rs79 crore by different clients.

When the audit team of the JS Bank visited the branches at Gulshan-e-Iqbal and Gulistan-e-Jauhar in the East Zone for the annual audit, they had found that the gold kept in the lockers was missing and it was replaced with artificial jewellery.