KARACHI: Directorate of Intelligence & Investigation (IR) has lodged FIR against Muhammad Ibrahim son of Bashir Ahmed for concealment of income tax evasion, money laundering to the tune of Rs23,723,000.
On April 2, 2019, during the hearing, investigation officer submitted FIR and informed the court that credible information was received that said suspect is maintaining a bank account in Habib Metropolitan Bank, Cloth Market Branch, Karachi with a monthly turnover of Rs20 million since inception i.e 17th Sep 2015, while he is not even registered with Federal Board of Revenue.
He further informed the court that inquiry was taken up and a notice was sent to him on his given Karachi address dated 24th May 2017 to explain his position in this regard, however, he remained untraceable and notice was returned un-served.
He argued that quantum of money involved being maintained in the name of a person who is untraceable resident of poor locality of area raises the suspicions that in actual the bank account is being used by some other persons for the purposes of tax evasion and money laundering.
He submitted that bank account holder is Syed Muhammad Yaseen in bank records and contact number given in it is of a person who identifies himself as Bashir Ahmed Qadri, further inquiry is underway to ascertain who is actually operating the bank account.
He has further stated that complaint prima-facie disclosed that offence punishable under section 111 (1) 192 A of the Income Tax Ordinance 2001 and Section 3, 4 and 8 of AML Act 2010 have been made out.
After the hearing, customs court has taken cognizance and observed that contents of the complaint which shows that prima-facie the case is made out, therefore, the cognizance is taken, the complaint is registered and office is directed to issue bailable warrants against above-named suspect.
