The Federal Board of Revenue (FBR) has identified another suspected benami account in Karachi with average monthly deposits of Rs20 million for three years.
According to FBR officials, Rs370m was found in the account of Muhammad Ibrahim, a resident of Nusrat Bhutto Colony, a lower-income neighbourhood.
The FBR launched a probe into the account to determine who had been crediting the money into the account. The investigation revealed that the account had been opened in 2015. The amount was credited in instalments between July 1, 2015 and June 30, 2018.
The revenue officials said their suspicions were aroused when they found a large sum of money in the account of a person living in a poor neighbourhood. They suspected the account was being used for money laundering.
The officials said that a total of over Rs369.4m had been credited into the account. They added that the suspect was not available at the given address, instead a man named Bashir Ahmed Qadri was residing there.
The FBR officials on Thursday approached a Karachi customs court seeking arrest warrants for Ibrahim.
The court issued bailable arrest warrants, which means the suspect will be able to obtain bail against surety bonds worth Rs1m.
