FBR unearths money laundering scandal in Karachi
Business
Seven companies found involved in the case
KARACHI (Dunya News) - Federal Board of Revenue (FBR) in a crackdown on money laundering mafia has unearthed a scandal involving Rs106 billion money laundering, Dunya News reported here on Thursday.
Seven companies were found involved in Rs106billion money laundering cartel, according to FBR.
The FBR sources said these seven companies committed money laundering through overinvesting in importing solar panels.
These companies showed 500 extra cost of solar panels imported from China, it said.
These companies committed money laundering with the abetment of banks and shipping lines.
The fraudulent companies showed Rs11 crore and 90 lakh business capital and did money laundering worth billions of rupees.
These companies transferred the money through Hawala network. An FIR has been registered against all these firms.
