KARACHI: Federal Investigation Agency (FIA) on Saturday froze at least 19 bank accounts belonging in a case pertaining to money laundering, ARY News reported.
According to details, FIA has frozen 19 bank accounts with over Rs330 million cash belonging to the business group.
Group maintained that the frozen accounts are the conglomerate’s normal financial dealings and transactions upon which the court has issued a notice to FIA prosecutor.
The bank accounts belonged to different organisations namely Ansari Sugar Mills, Chamber Sugar Mill, Tando Allah Yar Sugar Mills, Sajawal Engro Farms, Pak Ethanol and others
Background
The Supreme Court in July had taken up a suo motu case regarding the corruption case that revolves around a 2015 inquiry into the suspicious transactions when 29 ‘benami’ bank accounts were identified. Seven individuals were found involved in transacting Rs35bn suspiciously.
Seven individuals were said to be involved in using those accounts for suspicious transactions. The accounts were allegedly used to channel funds received through kickbacks.
The investigation has, however, revealed that the amount laundered can go up to Rs100billion.
