KARACHI: The National Accountability Bureau , Karachi has claimed to have arrested two suspects on the charges of obtaining illegal tax refunds amounting over one billion on the basis of fake invoices. According to NAB Karachi spokesperson, NAB officials and personnel conducted multiple raids in several parts of Karachi on late Tuesday evening and arrested two accused persons wanted in a case against proprietors of Shayan International and others on the charges of obtaining illegal tax refunds on the basis of fake invoices. The Reference involves eight accused persons that include private persons as well as officers and officials of Federal Board of Revenue (FBR) Karachi, out of which one accused is already arrested and under judicial custody. The accused Inam Butt and Syed Ali Jawad arrested from remits of Gulshan-e-Iqbal and airport road Karachi, have been charged in the Reference as agents who have been working in active connivance with officers and officials of FBR and bogus and non-existent firm owners, who manipulated requisite record on the basis of fake, bogus and forged documents for their personal gain and gain of officers and officials of FBR. The spokesperson said that illegal act on their part resulted in loss to national exchequer to the tune of Rs 111.477 million, the arrested accused persons have disclosed that they have been running an organised crime racket of such bogus firms for the sake of obtaining illegal refunds, whereas interrogation is likely to lead to other members of the racket that include officers of FBR as well as private agents. The arrested accused would be produced before Accountability Court Karachi for remand. Published in Daily Times, August 24th 2017.