FAISALABAD: The Federal Board of Revenue (FBR) on Tuesday arrested the alleged mastermind behind Rs 181 billion tax fraud outside the court premises in Faisalabad, ARY News reported.
According to the details, the individual, identified as Hassam Madani, allegedly established a fraudulent company in the name of a fake taxi driver, exploiting the identity to orchestrate a complex web of deceit.
The FBR, in its investigation, revealed that Madani and his associates engaged in fraudulent practices within the textile business, manipulating the fabric trade to siphon off funds.
READ: FBR files case against fake company owners for Rs314b tax fraud
The FBR has uncovered deceptive practices involving fake invoices that inflicted substantial losses on the national exchequer.
The fraudulent issuance of invoices, according to the FBR, caused significant financial harm to the country’s treasury.
The arrest was made after the court canceled the pre-arrest bail of the accused in the tax fraud case.
Meanwhile, the FBR spokesperson maintained that efforts are underway to arrest the accomplices of the arrested individual.
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