Pakistan’s Federal Investigation Agency (FIA) booked seven people in a case involving alleged diversion of Rs. 6.62 billion in sales proceeds attributed to Innovative Biscuits (Pvt.) Ltd., Dawn reported on April 22, 2026. The report described allegations of fraud, money laundering and tax evasion; they are not proof of guilt, and the sources available here do not establish a court finding.
What does the FIA case allege?
According to Dawn’s account of the FIR, the FIA inquiry concerned Rs. 6.62 billion in sales proceeds attributed to Innovative Biscuits. The FIR allegedly said the money was credited to benami accounts rather than the company’s declared accounts. The funds were reportedly first parked in accounts at another bank, then transferred to benami accounts and withdrawn in cash. These are allegations reported from the FIR, not independently established findings. Dawn’s April 22, 2026 report and a separate TechJuice report describe the alleged Rs. 6.62 billion scheme.
What the FIR account said about the accounts
Dawn reported that the accounts were opened using CNICs belonging to Abdullah Maqsood, Arsalan Ahmad and Maqsood Ahmad. Its report said the FIR alleged that genuine biometrics and routine signatures were used when opening the accounts, while proxy signatures were later used to operate them. Dawn also reported that five pay orders worth Rs. 92 million were issued in Abdullah Maqsood’s favour. These details remain reported allegations.
Dawn reproduced this sentence as text from the FIR: “The benami accounts were opened on the CNICs of Abdullah Maqsood, Arsalan Ahmad and Maqsood Ahmad by banker Mazhar Ejaz and other bank officials.” This is the FIR’s account as quoted by Dawn, not an independently verified finding. Read the report.
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Who was named in the report?
Dawn reported that the FIR named seven people as booked:
- Sheikh Munir
- Amir Raza
- Abdullah Maqsood
- Arsalan Ahmed
- Maqsood Ahmed
- Muhammad Umair Khan
- Mazhar Ejaz
Dawn described Sheikh Munir Hussain and Amir Raza as company proprietors and executives, and Mazhar Ejaz as a bank officer. Names and roles here reflect Dawn’s reporting; the available sources do not establish individual guilt or provide additional verified allegations about each named person.
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What is known about the case status?
As of its April 22, 2026 report, Dawn said Mazhar Ejaz had been arrested and raids were under way for other suspects. That is the latest procedural status verified in the sources available here. They do not establish whether there have since been further arrests, bail decisions, a charge-sheet, court proceedings or a judgment.
Which laws did the report say were invoked?
Dawn reported that the case invoked sections 409, 419, 420, 467, 468, 471, 477-A, 34 and 109 of the Pakistan Penal Code, read with section 5(2) 47 of the Prevention of Corruption Act, 1947. The available reporting identifies those provisions but does not explain their application in the case. Their inclusion in a reported FIR is not a finding that an offence occurred.
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How should readers interpret the reported figures?
The Rs. 6.62 billion figure refers to sales proceeds at the center of the allegations as Dawn attributed them to the FIA. The Rs. 92 million figure refers to five pay orders described in Dawn’s account of the FIR. Neither amount is established here as judicially proven, assessed as tax due, recovered or finally adjudicated. The report’s count of seven refers to people named as booked, not people convicted.
The detailed account is based on news reports, not the original FIR, a court judgment or an official FIA case release. For any later procedural developments, readers should consult a current FIA statement, court record or subsequent reporting from a reliable outlet.
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