KARACHI: Federal Board of Revenue (FBR) on Wednesday has traced transaction of more than Rs8 billion through six benami bank accounts in Karachi.
As the latest development in money laundering case, the board has lodged cases against four traders and told that tax evasion worth Rs1.26 billion has been found. According to sources, bailable arrest warrants worth Rs2 million each have been issued against the accused.
Earlier, Supreme Court was informed that Pakistani nationals own up to $150 billion worth of assets and money in bank accounts in United Arab Emirates (UAE).
During the hearing of suo motu notice, Chief Justice of Pakistan (CJP) had expressed resentment over continuous smuggling and hundi-hawala. The Attorney General told that 11 agents, involved in illegal transfer of money, were taken into the custody during raids in parts of the country.
The 12-member inquiry committee has found that $15.25 billion were transferred abroad through banking channel during the fiscal year 2016-17, he revealed.