FIA asks SC to form 'high-powered' JIT for Fake Bank Accounts Case

News Image

MG News | August 06, 2018 at 03:54 PM GMT+05:00

0:00

The Federal Investigation Agency (FIA), on Monday, August 6, 2018, requested the Supreme Court to form a high-power Joint Investigation Team (JIT) to probe the alleged money laundering of Rs 35 billion through fake accounts.

Justice Nisar added that if a high-power JIT were set up, it would have to be formed in a similar way to the one formed in the Nawaz Sharif case, as a “balancing act”.

The court was informed that the amount laundered could possibly exceed Rs 35 billion as over 10,000 suspicious transactions have been discovered during the investigations.

Responding to the defense counsel’s query on whether the top court or the lower court would hear the trial, Chief Justice Nisar said that the trial could be conducted in the Supreme Court as well.

Former president Asif Ali Zardari, his sister Faryal Talpur, Summit Bank Senior Vice-President Taha Raza and the former Pakistan Stock Exchange chairman Hussain Lawai, are among those being investigated by a seven-member JIT led by FIA Additional Director General Najaf Mirza.

An inquiry has been in process since the year 2015 when the investigation agency was first informed of four suspicious accounts opened. Thereafter, the Financial Monitoring Unit in December 2017 had detailed, in a Suspicious Transaction Report (STR), the detection of a total of 29 accounts involved in suspicious transactions using the names of seven individuals.

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg