Karachi
December 20, 2020
The Sindh High Court (SHC) has dismissed bail applications of three suspects in a case pertaining to Benami accounts, multi-billion money laundering, parallel banking and gambling.
Naresh Kumar, alias KG, Mohammad Faisal, alias Chitta, and Naresh Kumar, alias Jani, were arrested by the Federal Investigation Agency (FIA) for their involvement in operations of Benami accounts, money laundering and parallel banking practices.
According to the FIA, all the accused were in liaison with foreign accomplices by virtue of internet web portals to cheat the general public. The accused also opened various Benami accounts with all commercial banks to camouflage the nature of ill-gotten funds under the guise of dummy businesses in connivance with bankers.