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Money laundering via fake accounts crosses Rs100 billion: JIT informs SC

Money laundering via fake accounts crosses Rs100 billion: JIT informs SC
October 22, 2018
ISLAMABAD (92 News) – The joint investigation team (JIT) on Monday informed the Supreme Court that the money laundering had been done more than Rs100 billion through fake bank account. The JIT submitted its second report on the case to the top court earlier today, in which it revealed that what started as fictitious bank accounts evolved into an extremely complicated scam of money laundering crossing Rs100 billion. During the hearing, JIT head Ihsan Sadiq revealed that Rs47 billion transactions have been done through fake bank accounts and Rs54 billion were transferred through the fictitious accounts of 36 companies. He said that this is a big fraud in the probe till now. In the report, the JIT head stated that the Sindh government is not cooperating properly in the probe and said millions of rupees were dumped in bank accounts of unsuspecting individuals and even those who have been dead for two years, through complex mechanisms. National Bank’s lawyer apprised the court that Omni Group has to pay Rs23 billion, however, three Sugar mills and one rice mill of Omni Group has been closed. The court issued a notice on request of the bank. The counsel representing Omni Group appeared before the apex court today and told the chief justice that Anwar Majeed needed to be hospitalised as he faces cardiac problems and was fitted with a stent back in 1999. The chief justice remarked that the accused pertaining to the case of fake bank accounts have been transferred to the hospitals, saying that Anwar Majeed may be shifted to the Rawalpindi Institute of Cardiology. The CJP said that no reliance on the reports of the Sindh doctors, adding the doctors of Islamabad will provide better facilities to the patient. Rejecting the four month period of time, the court ordered the Sindh government to provide all records related to the case within four days. The hearing was adjourned till October 26.