FIA may detect more than 150 fake accounts

KARACHI: Federal Investigation Agency (FIA) investigators are likely to detect 150-plus fake accounts and Rs200 billion laundered through these accounts in the ongoing money laundering case, The News learnt.

A team member of inquiry committee, on the condition of the anonymity, informed The News that FIA investigators were confident about detection of more 150-plus fake accounts in which according to initial guess some Rs200 billion was laundered.

“Within days, FIA will submit another progress report with the details of more accounts and laundered money,” concluded the official.

Also read: A money-laundering scandal with potential to upset political scene

On August 13, during the hearing of a suo motu case pertaining to money laundering case of Sindh of Rs35 billion through fake accounts, FIA Director General Bashir Memon has informed the Supreme Court that the FIA had discovered 15 more accounts with transactions worth Rs6 billion.

According to the progress report, an account for Dream Trading & Co for one Muhammad Rasheed had been opened by Mukhtar Ahmed, who is involved in opening other accounts at UBL and Sindh Bank by adopting the same procedure of changing signatures and Rs2.39 billion was transferred from February 2012 to September 2013.

The progress report also states that another account titled Ocean Enterprises for one Abdul Qadir was opened by Ahmed, wherein Rs2 billion was transferred from February 2012 to September 2013. The third account titled Star Broker Badin for one Ejaz Ahmed, wherein Rs1.06 billion was transferred from July 2014 to February 2015.

The FIA has also shared a list of 14 individuals whose CNICs were used. They include Naeem, Hasan Brohi, Amjad Aftab, Ghulam ul Nabi, Jangdeesh, Afzal, Hanif, Jalal, Mushtaq, Asad Ali, Bakhsh Salangi, Muhammad Ashraf, Tariq Sultan and Muhammad Umair.

It was also stated that an account in the name of Zain and Mushtaq Hazaro was opened at Summit Bank, Dolmen City Branch. Between February 2014 and January 2015, an amount of Rs8.3 billion has been routed in this account. An amount of Rs4.71 billion has been transferred in a fake account wherein Rs3.76 billion has been withdrawn in cash through fake signatures of Tariq Sultan, Muhammad Ashraf, Naeem and others whose CNICs were used for cash withdrawal from fake or suspected accounts.

It is also stated that Pak Oasis Ltd is a government contractor for installation of RO plants in Sindh, which deposited Rs98.32 million in fake accounts. Scrutiny of bank records revealed that huge cash amounts were withdrawn from suspected accounts by accused Naeem and Hassan Brohi using CNICs of different persons.

The FIA has also revealed that online verification from FBR reveals that out of seven individuals, two are blacklisted while three are active, for which a probe is underway.