Daily Times

Federal Investigation Agency (FIA) on Saturday froze at least 19 bank accounts belonging to the Omni Group whose higher ups face an inquiry in a money laundering and fake accounts case.

According to details, the FIA has frozen 19 bank accounts with over Rs330 million cash belonging to Omni group. Media reports suggested on Saturday that the business group has approached the court to get the accounts reopened.

In its pleas, the reports said, Omni group has maintained that the frozen accounts are used by the conglomerate’s for its day-to-day financial dealings and transactions. The court has issued a notice to FIA prosecutor in this regard.

The bank accounts belonged to different organisations owned by the Omni group, namely Ansari Sugar Mills, Chamber Sugar Mill, Tando Allah Yar Sugar Mills, Sajawal Engro Farms, Pak Ethanol, Omni Polymer Packages, Omni Private Limited, Khoski Sugar Mills, Larr Sugar Mills, Omni Association, Dawood Energy, Shikarpur Power and Omni Welfare Foundation.

The fake accounts case concerns a 2015 inquiry into suspicious transactions from 29 ‘benami’ bank accounts. Seven individuals were found involved in transacting Rs35bn suspiciously. The accounts were allegedly used to channel funds received through kickbacks.

The Supreme Court is currently overseeing proceedings in the case that also involves as suspects the co-chairman of the Pakistan Peoples Party and his sister.