KARACHI: The Federal Board of Revenue’s Regional Tax Office has completed almost 70 percent investigations into the assets and properties of Muhammad Rizwan, Associate Vice President of Axact, who was arrested a few days ago in fake degrees’ case.
Sources informed Customs Today that the FBR had arrested four core members of the Axact — Muhammad Rizwan, Imran Ahmad, Adnan and Atif Hussain — in bogus degree scam.
According to the initial investigations, the FBR found that Rizwan owned almost millions of rupees and also has many properties in Karachi, however the department was scrutinising the data to find the tax record of the accused which will be shared later, the sources said, adding that the FBR has also detected that Rizwan was also running businesses abroad.
They said that investigation against other three arrested Axactians is underway and it may make some important revelations in this regard.
