Undeclared assets: FBR digs out benami properties worth over Rs62.36 bn

KARACHI: The Federal Board of Revenue (FBR) unearthed more than Rs62.36 billion worth of benami properties during its crackdown on undeclared assets until Feb 28, ARY News reported, citing sources.

The Omni Group, owned by Anwar Majeed, an aide of former president and PPP co-chairman Asif Ali Zardari, owned most of the benami properties, whose value was estimated at more than Rs14.86 billion.

The sources relayed as many as 146 benami properties worth Rs31.22 billion have been confiscated to date by the tax authorities.

Of the seized properties, 101 benami properties were confiscated in Karachi zone, 31 in Islamabad and 14 in Lahore.

The FBR identified as many as 752 beneficiaries of these properties.

A total of 63 cases involving benami properties have been finalised while 34 references filed.

The National Accountability Bureau (NAB) lately unearthed undeclared (benami) property of Omni Group’s Abdul Ghani Majeed, one of the main accused in fake bank accounts reference.

The NAB has uncovered benami property of Abdul Ghani Majeed, situated in Karachi’s area of Cantt. The anti-graft watchdog body has decided to seize 5,145 square yards plot. In this context, the NAB Rawalpindi has moved the accountability court for the seizure of plot.