Aziz Buneri
Peshawar: A senior officer at the Bank of Khyber (BoK) is under scrutiny following serious complaints from account holders and former employees, alleging involvement in a fraudulent pyramid scheme. Mr. Arif Ullah, the Operations Manager at BoK’s Northwest Hospital Branch in Peshawar, is accused of using his position to gain the trust of clients and colleagues, soliciting funds for a private investment scheme.
In written complaints, former employee Amanullah Khan and customer Sangar Khan detailed how Mr. Arif Ullah persuaded them to invest significant sums—PKR 700,000 each—into what he claimed was a legitimate e-commerce and product distribution business. According to the complaints, Mr. Arif Ullah represented the scheme as part of a reputed multinational venture, promising distribution rights across Pakistan.
Amanullah Khan stated that Mr. Arif Ullah encouraged participants to join a two-month “training program,” during which they were instructed to keep details confidential. It later became clear that there was no legitimate business operation; instead, participants were pressured to recruit others and invest further, with returns solely based on new investments rather than actual product sales.
Sangar Khan explained that he trusted Mr. Arif Ullah due to his position as a bank officer, meeting with him several times at the bank’s office, where Mr. Arif allegedly used bank premises to conduct these activities. Khan has formally requested the bank to refund his PKR 700,000, citing a breach of public trust.
These allegations, if substantiated, highlight a conflict of interest and potential misuse of bank resources, with bank sources confirming that promoting private schemes violates BoK’s ethical guidelines. Employees are expected to focus on advancing bank services rather than private ventures.
In response, the BoK’s Human Resources Department confirmed that an investigation is underway and will conclude soon. Meanwhile, the complainants have urged the bank to issue a warning to employees and clients to prevent further cases of exploitation.