KARACHI: The Federal Board of Revenue, on the instruction of a special revenue judge, has frozen bank accounts worth Rs19 billion of a businessman and his family on alleged money laundering.
An FIR has been registered against Bashir Dawood, s/o Suleman Dawood and Mariam Dawood, w/o Bashir Dawood. The FBR has also issued show-cause notices under Section 9 (1) of Anti-Money Laundering Act 2010 in complaint number 01/2016 lodged under Section 203/192A of the Income Tax Ordinance.
It was revealed in the court of Special Judge (Customs, Taxation and Anti Smuggling) Karachi that it came on the record that transactions under their control in bank accounts maintained at Habib Metropolitan Bank Karachi with effect from 01-01-2012 to 20-11-2016 are believed to be proceed of crime and allegedly involved in money laundering.
The FBR’s investigation showed that the sale of M/S Dawlance Electronics Pvt Ltd to an offshore company M/S Pan Asia Equity Limited, British Virgin Island, was worth millions of dollars so they asked the concerned persons for providing details of the owners/directors of the buyer company, original sale agreement, amount for which M/S Dawlance Electronics was sold and copy of proceeds rationalisation certificate in lieu of sale of the company.
