Reportedly, the Federal Investigative Agency (FIA) has unearthed what may be the biggest money laundering case in Pakistan to date. Based on the findings of the FIA, the Supreme Court has ordered to put 3 prominent bankers on the Exit Control List (ECL) after their banks were found indulging in laundering Rs 35 billion. The apex court suggested to make a Joint Investigation team (JIT) to further probe this case.
Supreme Court constituted a 3 member bench to conduct hearings on this case, after a suo moto notice was issued for the same on Sunday. Chief Justice Supreme Court Justice Saqib Nasir headed the bench.
Director General FIA Bashir Memon told the court that in 2010, an inquiry was started after getting information from sources about the illegal money transfers. He mentioned that there were only 4 accounts at first, with the number rising to a total of 29 accounts for illegal money transfers.
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Out of these, 16 accounts were opened at Summit Bank, 8 in Silk Bank, and 5 in United Bank. Astonishingly, all these accounts were found in the name of 7 people. About Rs. 35 billion in illegal transactions were traced to these accounts.
According to DG FIA:
- Tariq Sultan was operating 5 accounts,
- Erum Aqeel with 2 accounts,
- Muhammad Ashraf  with 4 personal accounts and one in the name of Logistic Traders,
- 4 accounts in the name of Humara Sports,
- 3 accounts held by Adnan Javed under the name of Lucky International,
- 3 for Qasim Ali under the name of Royal International
- 1 account in the name of  Muhammad Umair, who is currently living abroad.
The Court asked the DG FIA about the origin and the beneficiaries behind this money laundering scam. DG FIA told the court that former President Summit Bank’s head Hussain Lawai has been arrested and an FIR registered in this regard.
Bashir Memon, DG FIA , also told that Rs.70 million were transfered to Ansari Sugar Mills, Omani Group Rs. 5 million, Pak Ethanol Rs. 15 million, Chembar Sugar Mills Rs. 20 million, Engor Farms Rs.5.7 million and Zardari Group got Rs. 15 million.
During the proceedings, Chief Justice said that these are very influential people that the FIA has named.
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In its order, the Court has summoned 13 beneficiaries including Ex President of Pakistan Asif Ali Zardari, Faryal Talpur and 7 accused persons on July 12, 2018. The court also ordered DG FIA to make sure of their attendance.
The court also ordered State Bank of Pakistan (SBP) to hand over relevant records to the FIA. Furthermore, they want Summit Bank to submit Rs. 7 billion in SBP as a guarantee.
The court also ordered the Ministry of Interior to put UBL, Summit Bank and Sindh Bank’s CEOs and Presidents name on ECL. These bankers will not be allowed to leave the country till the end of inquiry.
