LAHORE : Federal Investigation Agency (FIA) Lahore during a crackdown on individuals involved in money laundering, arrested a suspect allegedly involved in laundering millions of rupees.
According to a press release here Tuesday, the accused, Rashid Ali, was found involved in money laundering worth Rs140 million. Investigations revealed that the suspect used multiple personal and business bank accounts for transferring money through structured transactions across various banks.
The FIA stated that there was a clear discrepancy between the suspect’s business profile and financial transactions, with illegal funds allegedly shown as business income.The suspect has been taken into custody and an investigation has been initiated, an FIA spokesperson said.
