Alleged Money Laundering Uncovered: Bahria Town Linked Company Under Scrutiny

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ISLAMABAD, March 24,2024: In a recent investigation carried out by the Federal Board of Revenue (FBR), startling revelations have emerged regarding purported money laundering and tax evasion amounting to billions of rupees by Vicky Trading Pvt. Ltd, a trading company allegedly affiliated with Bahria Town, a prominent real estate developer in Pakistan.

Documents obtained by Dawn disclose that legal proceedings against Vicky Trading Pvt. Ltd are currently ongoing at the special court of customs, taxation, and anti-smuggling under the provisions of the Anti-Money Laundering Act (AMLA) 2010. The FBR’s report asserts that Vicky Trading Pvt. Ltd maintained 18 bank accounts across various financial institutions nationwide.

According to the report, “The accused admitted in its reply…all 18 accounts are solely dependent upon Bahria Town…and in both companies, all the directors are family members…

The report conveyed fund inflows from Bahria Town to the bank accounts of Vicky Trading Pvt. Ltd amounting to Rs319 billion,” covering the period from 2014 to 2018.