TDAP: Money laundering worth Rs250 million uncovered

FIA is now looking to arrest director to commerce minister, Farhan Junejo.


September 01, 2013
TDAP logo. PHOTO: TDAP

Director to the commerce minister, Farhan Junejo was found to be embroiled in a money laundering case worth Rs250 million, Express News reported on Sunday.

Using Trade Development Authority of Pakistan (TDAP), funds were deposited in various countries in the form of trade subsidies.

Express News reported that Federal Investigation Authority (FIA) is now looking to arrest Junejo.

Earlier, Prime Minister Nawaz Sharif had ordered that the Chief Executive of TDAP Abid Javed Akbar Ali be sacked.

He had also referred the case involving the misappropriation of Rs1.27billion to FIA.

The officials implicated in the case included former Secretary TDAP Abdul Kabir Qazi and Director General Facilitation Abdul Karim Daud Pota.

He also ordered that a special audit be carried out of TDAP accounts over the last two years.

COMMENTS (3)

Pakistani | 11 years ago | Reply

Adnan zaman and Institute of Chartered Accountants of Pakistan is equally responsible for this, i recommend that ICAP should be dissolved as well..

M.Ashraf Choudhry | 11 years ago | Reply

@ashar: In order to maintain balance.

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