Billions traced in laundered cash, claims govt
'More than 5, 000 fake accounts earthed'
Pakistanis are the third largest owners of property in Dubai, advisor to PM on accountability says. PHOTO: SCREENGRAB
ISLAMABAD:
Special Assistant to the Prime Minister on Accountability Shahzad Akbar has said details of Rs700 billion laundered to 10 countries from Pakistan have been received and soon a reference will be filed.
“More than 5,000 fake accounts (in the name of common citizens) involved in money laundering have been unearthed. Through these accounts, money laundering exceeded $1 billion,” claimed the special assistant while addressing a news conference in the country’s capital on Monday.
He was accompanied by Senator Faisal Javed and Special Assistant to the PM on Media Iftikhar Durrani.
Akbar said, “Former rulers acquired Iqamas to hide the money looted from the country. We are acquiring all details of the Iqama holders from the Dubai administration.”
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He gave an open warning to the people hiding their money in Dubai and European banks that they would not be able to hide anymore.
“Information obtained from 10 countries reveals that $5.3 billion, which translates into Rs700 billion, has been taken out from Pakistan and that too is a small portion of the total amount,” said Akbar, adding that the issue of fake accounts was in the Supreme Court, which had ordered to not discuss the issue in the media.
“The list of the accused will soon be published,” he said. “We cannot provide the list till a decision to file a reference is made.”
He said the most difficult part of the investigation was the identification of the real accused through Iqama, in which they hide their identification.
“If a person has acquired a property in the name of his driver or gardener, and one pursues the case, then it is found that the driver or gardener is an employee of a very big person,” said Akbar.
He said the Rs700 billion amount does not include Swiss properties.
“The figure will increase tremendously after we obtain details from the Swiss government and British Virgin Island,” he said. “We have sent notices to all the big crocodiles and have had their accounts frozen in some countries. After the details are received, references will be filed.”
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In the cases of rickshaw drivers and faluda sellers, he said there were more than 5,000 fake bank accounts.
“A person deposits money into such accounts and then storms TV channels saying to prove it,” said Akbar. “MQM is also involved in major money laundering and soon a breakthrough is expected.”
According to APP, Akbar said, “All those who are complaining and crying for democracy are the ones responsible for the situation. Soon a reference will be filed.”
He claimed that big news would be shared about the money of Pakistanis stashed in Switzerland banks by the end of the month.
To a query, he said, “When the judgement in the Hill Metals case is made public everything will be clear because it is that ‘blessed factory’ from where money had been transferred to make properties in Pakistan and London.”
He claimed that the money for the Flagship Investment was also transferred from the Hill Metals account.
Special Assistant to the Prime Minister on Accountability Shahzad Akbar has said details of Rs700 billion laundered to 10 countries from Pakistan have been received and soon a reference will be filed.
“More than 5,000 fake accounts (in the name of common citizens) involved in money laundering have been unearthed. Through these accounts, money laundering exceeded $1 billion,” claimed the special assistant while addressing a news conference in the country’s capital on Monday.
He was accompanied by Senator Faisal Javed and Special Assistant to the PM on Media Iftikhar Durrani.
Akbar said, “Former rulers acquired Iqamas to hide the money looted from the country. We are acquiring all details of the Iqama holders from the Dubai administration.”
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He gave an open warning to the people hiding their money in Dubai and European banks that they would not be able to hide anymore.
“Information obtained from 10 countries reveals that $5.3 billion, which translates into Rs700 billion, has been taken out from Pakistan and that too is a small portion of the total amount,” said Akbar, adding that the issue of fake accounts was in the Supreme Court, which had ordered to not discuss the issue in the media.
“The list of the accused will soon be published,” he said. “We cannot provide the list till a decision to file a reference is made.”
He said the most difficult part of the investigation was the identification of the real accused through Iqama, in which they hide their identification.
“If a person has acquired a property in the name of his driver or gardener, and one pursues the case, then it is found that the driver or gardener is an employee of a very big person,” said Akbar.
He said the Rs700 billion amount does not include Swiss properties.
“The figure will increase tremendously after we obtain details from the Swiss government and British Virgin Island,” he said. “We have sent notices to all the big crocodiles and have had their accounts frozen in some countries. After the details are received, references will be filed.”
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In the cases of rickshaw drivers and faluda sellers, he said there were more than 5,000 fake bank accounts.
“A person deposits money into such accounts and then storms TV channels saying to prove it,” said Akbar. “MQM is also involved in major money laundering and soon a breakthrough is expected.”
According to APP, Akbar said, “All those who are complaining and crying for democracy are the ones responsible for the situation. Soon a reference will be filed.”
He claimed that big news would be shared about the money of Pakistanis stashed in Switzerland banks by the end of the month.
To a query, he said, “When the judgement in the Hill Metals case is made public everything will be clear because it is that ‘blessed factory’ from where money had been transferred to make properties in Pakistan and London.”
He claimed that the money for the Flagship Investment was also transferred from the Hill Metals account.