Atif Mohammad Khan, the husband of renowned model and actress Nadia Hussain and former CEO of Bank Alfalah Securities, has been arrested over allegations of embezzling 540 million rupees.

The Federal Investigation Agency (FIA) confirmed his arrest following a probe initiated after a complaint from the company’s board of directors. According to investigators, Model Nadia Hussain husband Atif Khan allegedly misused 80 million rupees of company funds for personal trading and illegally acquired 654 million rupees through a third party, repaying it with high-interest payments using corporate funds. The FIA also accused former Chief Financial Officer Faisal Sheikh and another individual, Imtiaz Ahmed, of facilitating the fraud. Authorities said further investigations are underway.