KARACHI: As part of its ongoing investigation into fake bank accounts, the Federal Investigation Agency (FIA) has unearthed billions of rupees worth of transactions from bank accounts opened in the name of a person who passed away in May 2014.

Citing sources, ARY News reported that the transactions worth around Rs4.6 billion were made from the accounts in the name of a person, Iqbal Arain, who had died on May 9, 2014.

Iqbal Arain had passed away at a hospital located at Shaheed-e-Millat Road and was laid to rest at Sakhi Hassan graveyard.

The sources said four bank accounts were opened in the name of the deceased in three different private banks.

This is the latest in a series of disclosures about fake accounts by FIA which has been probing a case pertaining to money laundering of Rs35 billions through fake bank accounts, on the directives of the Supreme Court.

Last week, transactions worth millions of rupees were detected in a bank account opened in the name of a widow residing in Karachi.

FIA is currently probing a money laundering case worth billions of rupees through fake bank accounts, including the one held by PPP leader Asif Ali Zardari and his sister Faryal Talpur.

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