FIA sources dismisses reports of Owais Tappi's arrest from Dubai.

ISLAMABAD:Federal Investigation Agency (FIA) officials reportedly dismissed the reports of the arrest of Owais Muzaffar Tappis from Dubai.Earlier, it was wrongly reported that Pakistan People's Party (PPP) co-chairman Asif Ali Zardari's foster brother Owais Muzaffar Tappi was arrested from Dubai on Tuesday in money laundering case.

The FIA officials told media thatChief Financial Officer (CFO) of Omni Group, Arif Khan has been arrested from Dubai with the help of Interpol.He will be shifted to Islamabad soon, FIA said.

MONEY LAUNDERING CASE:In December 2015, the Federal Investigation Agency began a discreet investigation into certain bank accounts through which multi-billion rupee transactions have been made. According to FIA sources, information regarding the fake accounts came to the fore when an intelligence agency picked up a prominent money changer in an unrelated case.

As the monitoring and investigation of these suspicious accounts continued, it surfaced that five of these accounts in two banks the Sindh Bank and Summit Bank had been used for transactions worth around Rs15 billion.Investigation showed the accounts were operated by fake companies.

Funds were credited into these accounts from contractors with multi-billion rupee contracts with the Sindh government. The money was found to have been transferred to accounts of companies owned and operated by the Omni Group, whose chairperson, Anwar Majeed, is a close aide of Pakistan Peoples Party (PPP)...