Hussain Lawai, current chairman of PSX and former head of Summit Bank, has been arrested by the Federal Investigation agency today on account of allegations related to allowing transactions worth billions of rupees via bogus accounts at Summit Bank during 2013-15. The amount is said to be black money gathered from various kickbacks, commissions and bribes that were never reported to the authorities.

An inquiry into the case has been underway from quite some time now, media sources confirmed.

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