HomePakistanMoney Laundering: FBR Traces Rs360 Million Benami Transactions

Money Laundering: FBR Traces Rs360 Million Benami Transactions

The Federal Board of Revenue (FBR) in regard to the Money Laundering case on Thursday traced transactions worth Rs360 million through a benami account in Karachi.

According to reports of the money laundering case, the money was discovered in the bank account of a resident of Nusrat Bhutto,Mohammad Ibrahim.

A local court has granted FBRs request to register a case against the bank accounts owner and issued bailable warrants for his arrest.

Moreover, FBR said Ibrahim opened the account in 2015 and transactions were made into the account during July 1, 2015, to June 30, 2018. “Over Rs360 million was accumulated in the bank account over the course of three years, FBR said. Rs 20 million was deposited into the account each month.

FBR official said the suspect for money laundering was not available at his residence. A man named Bashir Ahmed Qadari was at the residence.

Last year,millions were discoveredin the account of a woman employed in the public sector. Sarwat Zehra, a resident of Korangi found that millions were deposited in her bank account when the FBR issued a tax notice to her.

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