By Our Correspondent
LAHORE — The Federal Investigation Agency (FIA) has registered a case involving alleged financial irregularities worth Rs6.63 billion, according to the FIR lodged by the Corporate Crime Circle Lahore.
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According to the FIR, the case relates to the alleged use of benami bank accounts and suspected tax evasion involving M/s Innovative Biscuits (Pvt.) Ltd. The FIR states that company-related funds were allegedly routed through multiple accounts to conceal transactions.
The FIR further mentions that accounts were allegedly opened in banks, including, according to the FIR, Habib Bank Limited (HBL) and Bank of Punjab (BOP), using alleged proxy documentation and third-party identities.
FIA sources said that one suspect has been arrested in connection with the case, while raids are being conducted to apprehend other nominated individuals, according to the FIR and initial investigation.
Sources further stated that some of the accused have allegedly secured pre-arrest bail from relevant courts. Officials have not disclosed further operational details due to the ongoing nature of the investigation.
According to the FIR, transactions amounting to billions of rupees were allegedly transferred, layered, and withdrawn through various channels. Investigators are examining account activities, documentation, and the alleged role of individuals and entities named in the FIR, including Innovative Biscuits.
Officials emphasized that these are initial allegations based on the FIR, and all accused persons and entities are presumed innocent unless proven guilty in a court of law.
The FIA’s Corporate Crime Circle Lahore is continuing the investigation to trace financial flows and determine the facts, as per the FIR and ongoing inquiry. Further developments are expected as the case progresses.
