The mysterious case of Summit BankKARACHI: The Joint Investigation Team (JIT) probing fake accounts case has undirty modus operandi Omni Group used to launder money through set uping a bank: Summit Bank.The report stated that Omni Group acquired Arwhether Habib Bank and operationalise it under a new name.
The bank was purchased by a little known Mauritius-based company.It was further revealed that a UAE citizen Naseer Abdullah Lotha sent Rs 6.1 billion through illegal means to fulfill State Bank of Pakistans requirement of preserveing fairness.These funds were deposited in fake accounts and then transferred to SBP accounts.
Hussain Lawai was Summit Bank president at that time.