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FBR traces ‘benami’ transactions worth Rs360 mn in Karachi

KARACHI: The Federal Board of Revenue (FBR) has traced transactions worth Rs360 million through a ‘benami’ account in Karachi, ARY News reported.

A local court here granted the FBR Karachi’s request to register a case against the bank account’s owner Muhammad Ibrahim and issued bailable warrants for his arrest.

Ibrahim, a resident of the Nusrat Bhutto colony, had opened the account in 2015.

The FBR Intelligence and Investigation Inland Revenue launched a probe into the transfer of Rs360 million into the benami account after registration of a case against its holder on the directives of the court.

Read More: FBR says, unearthed six Benami Accounts with over eight bln transactions

Earlier, Federal Board of Revenue had traced transactions of over Rs8 billion through six benami bank accounts in Karachi.

Subsequently, the FBR lodged cases against four people on charges of tax evasion  to the tune of Rs1.26bn.

Bailable arrest warrants worth Rs2m each were also issued for the arrest of the accused.

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