KARACHI: Federal Investigation Agency (FIA) on Saturday froze at least 19 bank accounts belonging to Omni Group in a case pertaining to money laundering and fake accounts case, ARY News reported.
According to details, FIA has frozen 19 bank accounts with over Rs330 million cash belonging to Omni group while the business group, on the other hand, has approached the court for reopening the accounts.
Omni 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 belonging to the Omni group namely Ansari Sugar Mills, Chamber Sugar Mill, Tando Allah Yar Sugar Mills, Sajawal Engro Farms, Pak Ethanol, Omni Polymer Packages, Omni Private Limited, Khoski Sugar Mills, Larr Sugar Mills, Omni Association, Dawood Energy, Shikarpur Power and Omni Welfare Foundation.
The fake accounts case
The Supreme Court in July had taken up a suo motu case regarding fake accounts 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.