Anwar Majeed's Omni group: Banking court seeks SC's instruction in money laundering case

A banking court on Wednesday sought Supreme Court's (SC) instructions on the plea of omni group to unfreeze its accounts in money laundering case. The court announcing its decision on the petition of omni group ruled that it would approach the apex court on the issue and directed to submit a report with the apex court in this regard.
Banking court also withheld its decision on the frozen accounts of omni group till the instructions are received from Supreme Court in this connection.
Omni group, which is accused of money laundering and being probed by Federal Investigation Agency (FIA), moved the banking court for reopening of its nineteen bank accounts, which were frozen when the money-laundering scam surfaced in which billions of rupees were transferred from fake bank accounts to various individuals and companies.
Omni group submitted in the court that more than 330 million have been stashed in frozen bank accounts, which were being operated in different banks.
It prayed the court to reopen these accounts as freezing of bank accounts would trigger a financial crisis for the group as the said bank accounts are used for business transactions of companies operating under the umbrella of omni group.
The group pleaded the court to issue orders to FIA to reopen these bank accounts for smooth business transactions of its companies.
Omni group's owner Anwar Majeed and his sons were arrested in connection with money-laundering case, whose trial is underway in the banking court.
According to FIA's probe, multiple bank accounts were opened few years back from where transactions worth billions of rupees were made, which FIA alleged as black money gotten through illegal means.
Supreme Court has also constituted a joint investigation team to probe the money laundering case after FIA made the plea for it.
Apex court also issued directives for keeping it into the loop before giving any verdict on the case related to money-laundering scam.