At least 334 individuals involved in fake accounts case, JIT informs SC

ISLAMABAD: The Supreme Court was informed on Monday that at least 334 individuals are involved in laundering money through fake accounts.

The apex court earlier took a suo motu on alleged money laundering of at least Rs35 billion through fake accounts. Private banks and senior bankers are involved in the case including other high-profile individuals.

JIT head Ahsan Sadiq briefed a three-member bench, headed by Chief Justice Saqib Nisar, in regards to 159 bank accounts and 210 companies – of which 47 belong to Anwar Majeed’s Omni Group – currently being investigated for illegal transactions.

The progress report submitted to the apex court by the JIT also highlighted that the funds were deposited in the dubious accounts by government contractors.

The chief justice observed during the hearing that the accounts were used to legalise illegal funds after being routed through fake accounts and also directed special courts to refrain from passing any order in applications filed by the respondents of the case.

Former president Asif Ali Zardari and sister Faryal Talpur applied for and were granted pre-arrest bail from lower courts. The case is also being heard by a banking court in Karachi.

Former president Zardari, sister Faryal Talpur, Zardari’s close aide Anwar Majeed, his son, former Pakistan Stock Exchange chairman Hussain Lawai and Summit Bank Senior Vice-President Taha Raza are among those being investigated by the FIA for allegedly facilitating 29 ‘fake’ accounts in Summit Bank, Sindh Bank and United Bank Limited.

Source: Express Tribune