ISLAMABAD: The Adjudicating Authority under Benami Transactions has ordered the confiscation of a benami property allegedly pwned by Karachi’s famous jeweller, Diamond Collection. The title of the plot in question remains in the name of benamidar, Khawjaa Kashif Hassan, even after the promulgation of the Benami Transactions (Prohibition) Act, 2017. Documents show that four out of seven units sold thus far have been transferred from the name of benamidar to alleged beneficial owner, Contractor Muhammad Yousaf, and his nominee/son, Muhammad Ahmed Raza. The authority stated that the alleged benamidar could not prove his independent creditworthiness, “Neither tax record nor any verifiable source confirms the claim that the benamidar has sufficient funds for such a project”. The remaining three buyers appear to be third parties who had no knowledge about the suspicious nature of the property.

Source: Pakistan Today May 12, 2021 12:33 UTC