According to the FIA sources, beneficiaries of the provincial Sindh government deposited Rupees 35 billion in these fake accounts and the amount was subsequently transferred to different accounts including one allegedly belonging to an Arab national, Nasser Abdulla Hussain Lootah, who is the chairman of the Summit Bank's board of directors.
Twenty nine accounts were opened in the name of seven people, including a woman, the sources said, adding that 18 to 19 of the 'fake' accounts were opened in the Summit Bank alone. The sources said the financial monitoring unit of the
State Bank of Pakistan alerted the FIA about fictitious' transactions in the banks. Subsequently, the FIA interrogated four of the seven persons in whose name the 29 accounts were opened. All the four people, including the woman, expressed their ignorance about the transactions and recorded their statements before the magistrate concerned.
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