The Federal Investigation Agency (FIA) found a trade account of a student from Larkana holding millions of rupees, a week after the agency found more than Rs2 billion in a food vendor’s bank account, media reports said Saturday.
The initial investigation revealed that a renowned construction company opened a trade account in the name of the student. A transactions Rs 1.5 billion was recorded in the year 2013-14 from the account. As many as Rs30 million is still present in the account.
The FIA has started an investigation in the case and the Supreme Court-mandated Joint Investigation Team probing the money laundering case has summoned the student who expressed lack of knowledge on the presence of account in his name.
Meanwhile, the FIA carried out a raid and arrested five people in connection with the food vendor Qadir’s case. All five accused are involved in the money laundering, reports said.
Earlier in the day, it was reported that an alleged fake bank account has surfaced in Karachi on which a credit card and loans were issued.
In September, the Supreme Court-mandated Joint Investigation Team (JIT) — set up to probe into money laundering cases — revealed that 33 suspicious accounts containing billions that were found during the course of an inquiry.
On September 29, a food vendor in a low-income neighbourhood of the metropolis was beside himself with surprise when he discovered that an account in his name in a private bank contained more than two billion rupees. Moreover, the agency recently found Rs173 million in a bank account of an unemployed youth belonging to Jhang.