ISLAMABAD: The federal government gave the Federal Investigation Agency (FIA) the go-ahead to investigate a major banking scam allegedly committed by a Pakistani-Norwegian businessman based in Dubai and involving $101.2 million (over Rs16 billion).
FIA Official sources told Dharti News that the federal cabinet which met on Monday had agreed a review of this impact submitted by the interior ministry.
The Corporate Crime Circle of the FIA has reported two different cases after concluding enquiries in both cases. It became clear during the investigations that Umar Farooq Zahoor and a co-accused allegedly committed a $89.2 million bank fraud in Oslo, Norway, in 2010 and another $12 million bank fraud in Bern, Switzerland, in 2004.
In view of the facts on record, prima facie the accused Umar Farooq Zahoor and Saleem Ahmad have committed (offences) pursuant to sections 408, 409, 419, 420, 467, 468, 471, 108-A and 109 of the Pakistan Penal Code, read in accordance with sections 3 and 4 of the Anti-Money Laundering Act, 2010 … Thus, as the offences were committed outside the borders of Pakistan, permission was given pursuant to section 188 of the Crimi Act, 2010
Section 188 of the CrPC reads as follows: ‘Whether a citizen of Pakistan commits an offence in any location without and beyond the limits of, or if a servant of the State (whether or not a citizen of Pakistan) commits an offence in (a tribal area) where any person commits an offence on any ship or aircraft registered in Pakistan wherever it may be, the offence may be considered as if it had been committed on any ship or aircraft registered in Pakistan wherever it may be FIA,
It is said that Zahoor is an important business personality. Over the years, he has won many awards for being the best businessman from Norway to Pakistan.