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September 24, 2018

NCA acted on FIA claim Junejo laundered Rs180-250m from Pakistan

Top Story

September 24, 2018

LONDON: Pakistan’s Federal Investigation (FIA) got former government official Farhan Junejo arrested by the National Crime Agency (NCA) on the basis of claims that the former aide of Makhdoom Amin Faheem allegedly laundered around Rs180 to Rs250 million out of Pakistani into his overseas accounts through “corruption and corrupt practices”.

The News has obtained a copy of 85-page charge sheet that the FIA sent to the NCA requesting action. The NCA has confirmed that it has put Farhan Junejo under investigation until further notice and no charges have been brought against Junejo while the investigation continues.

The NCA said in a press release that it had arrested the former “Pakistani Politically Exposed Person” in connection with alleged money laundering in the United Kingdom believed to be the result of corruption in Pakistan. It said that the investigation has been supported by the National Accountability Bureau (NAB) and the FIA and that it suspected Junejo controlled a UK property portfolio worth more than £8 million without any legitimate source of income.

The NCA gave no further details of what the exact allegations are against Farhan Junejo but the FIA charge sheet seen by The News shows that it carries reference to an FIR registered in Karachi against Junejo in August 2013 in reference to money laundering. The 85-page document claimed that Junejo (while serving as Director to Commerce Minister, Ministry of Commerce in Pakistan government, during the period 2009 to July 2012) “indulged in corruption and corrupt practices”.

It alleges that he “joined hands with Trade Development Authority of Pakistan (TDAP) officers in sanctioning/granting/approving/disbursing 25 percent freight subsidy to firms/companies either existing or non-existing against subsidy claims based on the fake/fictitious/forged exports' documents and through his front man received major share for himself and for his superiors.

The FIA charge sheet alleges that Junejo laundered through hundi about “Rs180 to Rs250 million in his and his family members but mainly in his own account No 18498715201 (IBAN -AE67-0440-0000-1849-8715-201) title Farhan Ahmed Junejo of Harlington Hayes, Middlesex, United Kingdom maintaining with Standard Chartered Bank Dubai Branch opened in 1st quarters of 2011 through Qasim Majeed - Associate Director Private Banking Division Standard Chartered Bank.

The details of money-trail by Farhan Junejo of transactions are as under:

1. 13/06/20111 - Rs22,544,400 = AED 956,372 Exchange Company in Dubai - Deposited in Account No18498715201 maintained with Standard Chartered Bank Dubai Branch.

2. 25/06/2011 - Rs15,492,000 = AED 655,270 Exchange Company in Dubai -- Deposited in Account No18498715201 maintained with Standard Chartered Bank Dubai Branch.

3. 09/07/2011 $150,000 = AED 546,320 Exchange Company in Dubai - Deposited in Account No18498715201 maintained with Standard Chartered Bank Dubai Branch.

4. 15/8/2011 Rs3,790,000 = AED 159,134 Exchange Company in Dubai - Deposited in Account No18498715201 maintained with Standard Chartered Bank Dubai Branch.

5. 26/9/2011 Rs2,000,000 = AED 79,365 Exchange Company in Dubai - Deposited in Account No18498715201 maintained with Standard Chartered Bank Dubai Branch.

6. 15/12/2011 Rs25,000,000 = AED 1,018,859 Exchange Company in Dubai - Deposited in Account No18498715201 maintained with Standard Chartered Bank Dubai Branch.

7. 2/2/2012 Rs20,000,000 = $215,079 Exchange Company in Dubai - Transferred by T T Through Wall Street Exchange Center LCC Dubai UAE. Beneficiary Nabi Sher Account Geneva Switzerland.

8 8/2/2012 Rs15,000,000 - $203,500 Exchange Company in Dubai - Transferred by T T through Wall Street Exchange Center LCC Dubai UAE. Beneficiary Nabi Sher Account Geneva Switzerland.

9 8/2/2012 Rs919,000 - $10,000 Exchange Company in Dubai - Transferred by T T through Wall Street Exchange Center LCC Dubai UAE . Beneficiary Rehan Junejo in his Bank Account in USA.

10.14/2/2012 Rs8,700,000 - GBP 60,000 Exchange Company in Dubai - Transferred by T T through Wall Street Exchange Center LCC Dubai UAE - beneficiary a UK female.

11. 13/3/2012 Rs11,989,655 = AED 476,900 Exchange Company in Dubai - deposited/credited in Account No18498715201 title Farhan Ahmed Junejo with Standard Chartered Bank Dubai Branch.

The FIA also named another individual Hanif Khatri who allegedly opened foreign currency accounts as under:

Account No312 -0001 -3 Title of Account Muhammad Hanif Khatri in United Bank Limited Karachi- Transferred £40,000 on 24/11/2009 vide outward Foreign Telegraphic Transfer (FTT) No25 to Barclays Bank International London in the name of a family member of Junejo.

2. Account No310-0100-1 Title of Account Muhammad Hanif Khatri in United Bank Limited transferred $30,000 21/11/2009 vide Outward Foreign Telegraphic Transfer (FTT) No24 to Citi Bank Chicago Illinois, USA in the name of Noman Junejo.

The FIA wrote that there are “reasonable grounds to believe” that Farhan Junejo while serving as a government official “acquired and accumulated huge assets through corruption and corrupt practices and also committed offences of money laundering by sending proceeds of crime from Pakistan to Dubai and from there to his and his family members account. He and his family members’ offences are punishable u/s 161, 164, 165, 165-A , 109 PPC R/W 5(2) PCA-11 1947 and section 3/4 of Money Laundering Act”.

In another important twist, the British Broadcasting Corporation (BBC) has taken down an article it wrote with help from the campaign group Transparency International (TI) focused on Farhan Junejo and his wife. It’s understood that the BBC would have only decided to withdraw this article after the family must have mounted legal challenge to the broadcaster, suggesting that the British Pakistani businessman and family have already started their fight back. The decision by the BBC to take down its “investigative piece” means that Junejo family may have served the legal notice on the BBC for defamation over inaccurate allegations and releasing personal information.

The NCA said the investigation continues.