After FBR Exposes Rs 9.41 Billion Fraud Against 85 Taxpayers, First Major Result – Serving FESCO CEO Booked in Rs 32.96 Crore Money Laundering Case

*FBR Intelligence Books FESCO CEO Engr Muhammad Aamer aka Aamir Pannu in Rs 32.96 Crore Tax Fraud & Money Laundering – 8 Years of Unlawful Wealth Statement Revisions Exposed, 3 Sons Nominated, 7 Properties, Luxury Vehicles Traced, Rs 35 Lakh to Rs 73.35 Crore*

By Asad Kharal

FAISALABAD / ISLAMABAD : In a rare and unprecedented move where one federal institution has booked the serving chief of another federal institution, the Federal Board of Revenue (FBR) has registered a massive tax evasion and money laundering case against the serving Chief Executive Officer of Faisalabad Electric Supply Company (FESCO), *Engr Muhammad Aamer, locally known as Aamir Pannu.*

This is the *first major result after the FBR exposed a Rs 9.41 billion nationwide fraud* involving 85 taxpayers who illegally revised old wealth statements to whiten black money.

The case, involving *Rs 32 Crore 96 Lakh 50 Thousand (Rs 329,650,895)*, has been registered as *FIR No. 15/2026 on the complaint of Inspector Inland Revenue Muhammad Usman* by the Directorate of Intelligence & Investigation (Inland Revenue), Faisalabad, under the *Anti-Money Laundering Act, 2010, and the Income Tax Ordinance, 2001*. Formal proceedings for arrest and attachment of properties have been initiated.

*DOCUMENTARY PROOF – THE SMOKING GUN TABLE OBTAINED BY MINUTE MIRROR:*

Minute Mirror has obtained the official FBR table which proves systematic fraud. It shows the accused filed original wealth statements from 2014 to 2021 and then illegally revised them twice – on *14-March-2025 and 29-June-2026*:

– Tax Year 2014: Original 03-Dec-2014 – Revised 14-Mar-25 & 29-Jun-26 – *Remarks: Unlawful Revision after five years*
– Tax Year 2015: Original 10-Dec-2015 – Revised 14-Mar-25 & 29-Jun-26 – *Unlawful*
– Tax Year 2016: Original 15-Dec-2016 – Revised 14-Mar-25 & 29-Jun-26 – *Unlawful*
– Tax Year 2017: Original 16-Dec-2017 – Revised 14-Mar-25 & 29-Jun-26 – *Unlawful*
– Tax Year 2018: Original 23-Nov-2018 – Revised 14-Mar-25 & 29-Jun-26 – *Unlawful*
– Tax Year 2019: Original 27-Nov-2019 – Revised 14-Mar-25 & 29-Jun-26 – *Unlawful*
– Tax Year 2020: Original 19-Dec-2020 – Revised 15-Mar-26 & 29-Jun-26 – *Second revision after five years is unlawful*
– Tax Year 2021: Original 27-Sep-2021 – Revised 15-Mar-26 & 29-Jun-26 – *Unlawful*

Under the explanation to *Section 116(3) of the Income Tax Ordinance, 2001, a wealth statement cannot be revised after five years* from the due date of the original return. Every revision here is 9 to 11 years late.

*HOW THE FRAUD WAS DONE – FROM RS 35 LAKH TO RS 73.35 CRORE:*

– The accused was registered with the FBR on *June 28, 2013*.
– *Tax Year 2014:* Initially declared cash of only *Rs 35 lakh (Rs 3.5 million)* and income of *Rs 11,39,714*.
– In the illegal revision in *FY 2025-26*, he showed the same cash as *Rs 73.35 crore (Rs 733.5 million)* – an increase of *Rs 72.98 crore with no legal source*.
– He inserted *Rs 10.28 crore (Rs 102.8 million)* of fictitious cash/gold/prize bonds/properties/business capital in the old statement, carried it forward till Tax Year 2025, and then used it to *purchase seven properties worth Rs 6.44 crore (Rs 64.41 million) in May and June 2026*.
– *Tax evasion:* Net evasion in this case alone *exceeds Rs 4.6 crore (Rs 46 million)*, while the total amount involved in the FIR is *Rs 32.96 crore*.

This matches 100% with the FBR’s Sept 30 press release pattern where taxpayers inserted cash, physical gold, prize bonds, properties, and business capital between March 2025 and June 2026 for Tax Years 2014-2019.

*THREE SONS NOMINATED – CLASSIC MONEY LAUNDERING LAYERING:*

The FIR nominates *three sons as abettors/beneficiaries/frontmen*:

– *Muhammad Hadi:* Gift of *Rs 14.44 crore in Tax Year 2025 and Rs 21.0 crore in 2026*
– *Muhammad Saad:* Gift of *Rs 6.92 crore*
– *Muhammad Ibrahim:* Gift of *Rs 4.0 crore*

Investigators say the sons have no independent income source to justify crores in gifts. This is layering under the AML Act.

*PROPERTIES, VEHICLES, ASSETS – DECLARED VS ACTUAL – COMPLETE COMPARISON:*

*Properties Traced:*
– Seven properties purchased in May-June 2026 worth *Rs 6.44 crore*
– Agricultural land and other properties in *Faisalabad, Chak Jhumra, and Chiniot*
– The FBR is now collecting mutation registers, bank accounts, prize bonds, and gold details.

*Vehicles Traced:*
– *Hyundai Sonata Model 2026 valued at Rs 1.62 crore (Rs 16.2 million)* owned by son Muhammad Hadi
– *Toyota Mark X Model 2010* registered in the name of Muhammad Saad
– Investigators are examining consistency: Declared income of Rs 11 lakh in 2014 vs assets worth crores in 2026 – no justification has been provided.

*PART OF RS 9.41 BILLION MEGA SCANDAL – BACKGROUND:*

– Fraud unearthed by the *Directorate General of Intelligence & Investigation (Inland Revenue)* through *Pakistan Revenue Automation Limited (PRAL) data analytics*.
– *85 taxpayers* revised wealth statements for Tax Years 2014-2019 between March 2025 and June 2026, inserting *Rs 9.41 billion of unexplained assets*.
– *48 criminal inquiries* have been launched across Pakistan, with the rest under process.
– In the Lahore region example quoted by the FBR, a taxpayer inserted Rs 10.28 crore and bought 7 properties worth Rs 6.44 crore – *the same figures as in the FESCO CEO case*, confirming this CEO is the Lahore case the FBR highlighted without naming.

*DUE PROCESS:*

– Notice issued *16-Sept-2026*, reply due *28-Sept-2026* – No reply.
– Lawyer requested an extension on *30-Sept-2026 till 07-Oct-2026*, which was granted – Again, no reply was submitted.
– FIR lodged. Proceedings for arrest initiated.

*WHO IS ENGR MUHAMMAD AAMER @ AAMIR PANNU?*

He is the serving CEO of FESCO – one of the most profitable DISCOs. A senior WAPDA engineer who rose through the ranks. Booking him under the AML Act is considered extremely rare, especially after the *Finance Bill 2025-26* empowered FBR Inland Revenue officers to arrest CEOs, Directors, and CFOs with the Commissioner’s approval.

*OFFICIAL STANCE & NEXT STEPS:*

FBR’s official statement: _”No one will be allowed to use the tax system to whitewash unexplained wealth. Data analytics will continue to track such manipulation. A money laundering case has been registered against the taxpayer and abettors, and further cases are being processed.”_

– Bank accounts, property records, and the money trail of the CEO and his sons are being investigated.
– Attachment proceedings have started.
– The Power Division and FESCO Board of Directors will have to decide on suspension/removal.
– A key question raised by a senior officer of the premier investigation agency, the FIA, as well as another senior officer of Pakistan’s supreme anti-corruption watchdog, NAB, is how a public servant earning Rs 11 lakh in 2014 can gift Rs 21 crore to his son and own a 2026 Sonata. Tax lawyers are calling it *”a textbook case of Section 111 – unexplained assets – and Section 3 & 4 of the AML Act.”*

*Legal Note:* The accused has the right to defence and is innocent until proven guilty by a court of law.